Elizabeth Warren's CFPB - Slush Fund For Democrats Crumbles

  • Contributor

    A Dodd-Frank upstart, Consumer Financial Protection Bureau (CFPB), spearheaded by Elizabeth "Pocahontas" Warren is getting some hot attention in the last few months. The bureau is known for issuing enforcement actions in the form of Consent Orders as a type of a penalty vehicle.

    Leandra English, the previous CFPB Director was pushed out by newly appointed Mick Mulvaney, who came in to oversee the opaque bureau and the shady slush fund practices. English threw a fit, and filed a restraining order against Trump, which was tossed out of federal court.

    English, who previously served in the White House as a senior Obama adviser, insisted she was the “rightful” acting director, and filed a temporary restraining order against Trump to block Mulvaney from taking over. A federal judge denied the order Tuesday, but her legal team has vowed to continue fighting, arguing Trump is attempting an “end-run” on the bureau.

    English, Schumer, Warren

    English, Pelosi, Warren, Schumer

    English is now represented by Gupta Wessler in another lawsuit against Trump, but not using her own funds. Instead, some other benefactor is paying the legal fees, but Deepak Gupta wouldn't reveal those money sources.

    While under directorship of English, CFPB acted like a slush fund for Democrats, cutting checks at a ratio of 593 Demcrat to 1 Rebublican. With other checks totaling $14 million to GMMB Inc, which did political ads for Obama and HRC. As well as additional political donations of $46,611 to Clinton, $13,190 to Warren, and $19,988 to Obama.

    An audit in September 2016 showed CFPB spent 61% of all fines on victims compensation, and 5.5% on consumer education. The spending doesn't go directly to victims. The distrobution is handled by contractors who dole out the money, but not after billing CFPB at $80/hr for Analysts who get paid $17/hr. Which simply means only a portion of that 61% ends up in consumers pockets. The following contractors are involved, and maybe more:

    To review payments made to CFPB through their Consent Orders, take a look here. They are sitting on a $54 million unalocated balance as of September 30, 2017.