The President for the Working Class fires Consumer Bureau Director Rohit Chopra

[IM2]

Yes indeed, Donald Trump was elected because he could connect with the working class. I guess whites are the only working class.

Trump fires consumer bureau director Chopra, source says​

Rohit Chopra, head of the top watchdog agency for consumer finance, submitted his resignation early Saturday after President Donald Trump fired him overnight, according a resignation letter he posted online and a person familiar with the situation.

Chopra's resignation ends a term at the Consumer Financial Protection Bureau, in which he spent years sparring with the financial sector under former President Joe Biden.

The Trump administration has not announced a replacement, but U.S. Senator Tim Scott, the chair of the Senate Banking Committee, told reporters on Tuesday that he expected a "blockbuster announcement sometime soon" on who will take over from Chopra, according to The New York Times.

https://www.reuters.com/world/us/trump-fires-consumer-bureau-director-chopra-source-says-2025-02-01/

I can just imagine.

 

[Auld Phart]

Yes indeed, Donald Trump was elected because he could connect with the working class. I guess whites are the only working class.

Trump fires consumer bureau director Chopra, source says​

Rohit Chopra, head of the top watchdog agency for consumer finance, submitted his resignation early Saturday after President Donald Trump fired him overnight, according a resignation letter he posted online and a person familiar with the situation.

Chopra's resignation ends a term at the Consumer Financial Protection Bureau, in which he spent years sparring with the financial sector under former President Joe Biden.

The Trump administration has not announced a replacement, but U.S. Senator Tim Scott, the chair of the Senate Banking Committee, told reporters on Tuesday that he expected a "blockbuster announcement sometime soon" on who will take over from Chopra, according to The New York Times.

https://www.reuters.com/world/us/trump-fires-consumer-bureau-director-chopra-source-says-2025-02-01/

I can just imagine.

IM 'imagines' a lot of stuff

 

[Polishprince]

What's the problem? Chopra was a political hack appointed by Sleepy Joe. Of course he has to go.

Get a conservative in there that isn't going to try and sabotage the Trump Mandate.

 

[Marener]

Get a conservative in there that isn't going to try and sabotage the Trump Mandate.

They’re going to sabotage the American people by bending over for the banks that want to take your money.

 

[Silent Warrior]

They’re going to sabotage the American people by bending over for the banks that want to take your money.

Gosh yes. I see your understanding of the financial industry. You feel if banks would only pay 10% on deposits and then loan the money out at 4% they could make their profit on volume.

 

[Manonthestreet]

What exactly does the Consumer Bureau do

 

[White 6]

What exactly does the Consumer Bureau do

Consumer Financial Protection Bureau - Wikipedia

en.wikipedia.org

 

[Manonthestreet]

Consumer Financial Protection Bureau - Wikipedia

en.wikipedia.org

Zero it out

 

[j-mac]

Consumer Financial Protection Bureau - Wikipedia

en.wikipedia.org

From your own link....

"
A 2013 press release from the United States House Financial Services Committee criticized the CFPB for what was described as a "radical structure" that "is controlled by a single individual who cannot be fired for poor performance and who exercises sole control over the agency, its hiring and its budget." Moreover, the committee alleged a lack of financial transparency and a lack of accountability to Congress or the president. Committee vice chairman Patrick McHenry, expressed particular concern about travel costs and a $55 million renovation of CFPB headquarters, stating "$55 million is more than the entire annual construction and acquisition budget for GSA for the totality of federal buildings."[46]

In 2014, some employees and former employees of the CFPB testified before Congress about an alleged culture of racism and sexism at the agency. Former employees testified they were retaliated against for bringing problems to the attention of superiors.[47][48]

House Republicans criticized the methodology the CFPB uses to identify instances of racial discrimination among auto lenders. Because of legal constraints, the agency used a system to "guess" the race of auto loan applicants based on their last name and listed address. Based on that information, the agency charged several lenders were discriminating against minority applicants and levied large fines and settlements against those companies. Ally Financial paid $98 million in fines and settlement fees in 2013.[49] As the agency's methodology means it can only guess who may be victims of discrimination entitled to settlement funds, as of late 2015, the CFPB had yet to compensate any individuals who were victims of Ally's allegedly discriminatory practices.[49] In 2016, the House voted to overturn its 2013 guidance, with 88 Democrats joining House Republicans.[50]

Cordray was accused but cleared of any violations of the Hatch Act as Director of the CFPB after being investigated by the Office of Special Counsel (OSC).[51][relevant?]"

 

[ColonelAngus]

The agency was originally proposed in 2007 by Elizabeth Warren while she was a law professor.

Out at MEGAKAREN CREATION.

EFF THE FAKE SQUAW.

 

[White 6]

Zero it out

Consumers do, in fact, get fkd regularly by businesses in the finance industry in many ways. Also true, is many consumers bringing it on themselves, by overextending themselves, as well as not reading, or being too damned dumb to understand what is in the contracts, they sign and commit too.

Welcome to the "let the buyer beware" administration. Hopefully, it will not result in consumer finance CEOs and administrators meeting the same fate as that health insurance CEO.

 

[White 6]

From your own link....

"
A 2013 press release from the United States House Financial Services Committee criticized the CFPB for what was described as a "radical structure" that "is controlled by a single individual who cannot be fired for poor performance and who exercises sole control over the agency, its hiring and its budget." Moreover, the committee alleged a lack of financial transparency and a lack of accountability to Congress or the president. Committee vice chairman Patrick McHenry, expressed particular concern about travel costs and a $55 million renovation of CFPB headquarters, stating "$55 million is more than the entire annual construction and acquisition budget for GSA for the totality of federal buildings."[46]

In 2014, some employees and former employees of the CFPB testified before Congress about an alleged culture of racism and sexism at the agency. Former employees testified they were retaliated against for bringing problems to the attention of superiors.[47][48]

House Republicans criticized the methodology the CFPB uses to identify instances of racial discrimination among auto lenders. Because of legal constraints, the agency used a system to "guess" the race of auto loan applicants based on their last name and listed address. Based on that information, the agency charged several lenders were discriminating against minority applicants and levied large fines and settlements against those companies. Ally Financial paid $98 million in fines and settlement fees in 2013.[49] As the agency's methodology means it can only guess who may be victims of discrimination entitled to settlement funds, as of late 2015, the CFPB had yet to compensate any individuals who were victims of Ally's allegedly discriminatory practices.[49] In 2016, the House voted to overturn its 2013 guidance, with 88 Democrats joining House Republicans.[50]

Cordray was accused but cleared of any violations of the Hatch Act as Director of the CFPB after being investigated by the Office of Special Counsel (OSC).[51][relevant?]"

The man asked, so I posted the link, not even caring to explain what it is, as I do not get into problems involving consumer finance. Possibly having something to do with being a good personal financial manager, as well as straight "A" in semesters in contract law and tort, under an excellent judge and instructor, and also Managerial Finance. Being a good study, has it's lasting perks.

 

[j-mac]

The man asked, so I posted the link, not even caring to explain what it is, as I do not get into problems involving consumer finance. Possibly having something to do with being a good personal financial manager, as well as straight "A" in semesters in contract law and tort, under an excellent judge and instructor, and also Managerial Finance. Being a good study, has it's lasting perks.

Maybe you should give your alter ego, Mac1958 a shot at it.....

 

[White 6]

Maybe you should give your alter ego, Mac1958 a shot at it.....

I don't understand the reference, and have not seen him on the thread. But if you feel he has better reference for what that agency does, feel free to PM him and invite in, if you still have the question.

 

[j-mac]

I don't understand the reference, and have not seen him on the thread. But if you feel he has better reference for what that agency does, feel free to PM him and invite in, if you still have the question.

You sure are one smug asshole aren't you?

 

[22lcidw]

They’re going to sabotage the American people by bending over for the banks that want to take your money.

Progs and inside D.C. hacks pissed Trump off the first time around. Then there was an unscrupulous election in 2020. Hindsight is that Trump winning in 2020 would have been a more prudent desire for the deep state. At least up to now in his young administration.

 

[Polishprince]

What exactly does the Consumer Bureau do

Provides jobs for liberal do-nothing bureaucrats who can't do anything more productive

 

[Moonglow]

Gosh yes. I see your understanding of the financial industry. You feel if banks would only pay 10% on deposits and then loan the money out at 4% they could make their profit on volume.

Yer lucky if you get 4% fer monies in.

 

[Moonglow]

Provides jobs for liberal do-nothing bureaucrats who can't do anything more productive

The Consumer Bureau protects consumers from unfair business practices by:

• Educating consumers
  Providing information and resources to help consumers make smart financial decisions
  
  
• Enforcing laws
  Investigating complaints, suing companies that break the law, and developing rules to maintain a fair marketplace
  
  
• Supervising financial institutions
  Overseeing banks, lenders, and other financial institutions to ensure they follow the law
  
  
• Making disclosures clearer
  Working to make disclosures for credit cards, mortgages, and other loans easier to understand
  
  
• Setting rules
  Establishing clear rules that allow consumers to see the costs and features of products and services
  

The Consumer Bureau may also: Accept complaints from consumers, Review business practices, Monitor the marketplace, and Take action against companies that break the law.


Examples of Consumer Bureaus

• Federal Trade Commission (FTC) Bureau of Consumer Protection: Stops unfair, deceptive, and fraudulent business practices
  
  
• Consumer Financial Protection Bureau (CFPB): Helps consumers make financial decisions by providing information and accepting complaints

 

[Moonglow]

remeber that MAGATs are lawless assmunchers who enjoy seeing people get ripped off by the Bourgeoisie.