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Elizabeth Warren
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<blockquote data-quote="Babagounj" data-source="post: 2828823" data-attributes="member: 12952"><p><a href="http://dailycaller.com/2017/05/08/mortgage-giant-challenges-cfpb-elizabeth-warrens-pet-project-over-constitutionality/" target="_blank">Mortgage Giant Challenges CFPB – Elizabeth Warren’s Pet Project — Over Constitutionality</a></p><p></p><p>Last month Ocwen Financial Corporation announced that the company would challenge the constitutional authority of the Consumer Financial Protection Bureau (CFPB), asserting that the bureau lacks oversight from the White House and Congress.</p><p>And that’s an understatement. The CFPB should be called the Center for Protection Against Borrowing.</p><p></p><p>Widely supported by Senator Elizabeth Warren (D-MA), the CFPB was created to prevent irresponsible practices that hurt consumers. But, as predicted, the CFPB has become a bludgeon to beat up banks, mortgage companies, and other businesses in the financial sector to further a political agenda.</p><p></p><p>Ocwen contends that the CFPB is unconstitutionally structured because it vests too much unfettered power in the hands of one agency and its director without any meaningful oversight from the executive or legislative branches. Federal agencies sometimes abuse power through “rulemaking” – rewriting rules to achieve a political outcome.</p></blockquote><p></p>
[QUOTE="Babagounj, post: 2828823, member: 12952"] [URL="http://dailycaller.com/2017/05/08/mortgage-giant-challenges-cfpb-elizabeth-warrens-pet-project-over-constitutionality/"]Mortgage Giant Challenges CFPB – Elizabeth Warren’s Pet Project — Over Constitutionality[/URL] Last month Ocwen Financial Corporation announced that the company would challenge the constitutional authority of the Consumer Financial Protection Bureau (CFPB), asserting that the bureau lacks oversight from the White House and Congress. And that’s an understatement. The CFPB should be called the Center for Protection Against Borrowing. Widely supported by Senator Elizabeth Warren (D-MA), the CFPB was created to prevent irresponsible practices that hurt consumers. But, as predicted, the CFPB has become a bludgeon to beat up banks, mortgage companies, and other businesses in the financial sector to further a political agenda. Ocwen contends that the CFPB is unconstitutionally structured because it vests too much unfettered power in the hands of one agency and its director without any meaningful oversight from the executive or legislative branches. Federal agencies sometimes abuse power through “rulemaking” – rewriting rules to achieve a political outcome. [/QUOTE]
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