CFPB Under Attack from Dark Money Group
The Consumer Financial Protection Bureau (CFPB) is facing attacks from a secretly-funded group. The CFPB was created to protect consumers from predatory financial practices and may soon issue rules to rein-in payday lenders.
As the time for those rules draws closer, the bureau faces fresh attacks from secret groups.
Bill Moyers has more:
Since it formed in 2011, the Consumer Financial Protection Bureau (CFPB) has been under siege from financial institutions. Senate Republicans tried very hard to stop it from functioning at all, and since then they’ve tried to “tighten the leash” on the agency. Nearly five years since it officially opened, a new dark money group is taking aim at the agency — and no one has any idea who’s behind it.
Protect America’s Consumers is a 501(c)(4) group that incorporated in November 2015. Its registered agent is North Rock Reports LLC, located at the same address in Warrenton, Va., as the law firm Holtzman Vogel Josefiak Torchinsky. According to Politico, “The firm specializes in untraceable pressure groups for conservative causes.” In 2012, Bloomberg News reported that the firm was tied to groups that had spent more than $250 million on the 2012 election, including Karl Rove’s American Crossroads.
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