CFPB: AN AGENCY DESIGNED BY A COMMUNIST FOR POLITICAL CONTROL
Talking about Chicago crime is now a crime, a violation of the Equal Credit Opportunity Act…
The Consumer Financial Protection Bureau (CFPB), the all-powerful agency architected by progressive communist democrat Senator Elizabeth “Fauxcahontas” Warren, has recently made headlines with its attempt to use a novel legal theory to regulate free speech. The agency, created in 2010 to protect consumers in the financial marketplace, is testing a novel interpretation of the Equal Credit Opportunity Act that purports to hold financial firms responsible for any speech which may discourage a protected class of individuals from applying for mortgage loans.
Consumer Financial Protection Bureau Sues a Chicago Mortgage Company Alleging “Redlining” Violations Based on Political Speech and Social Commentary Broadcast on Conservative Radio Station.
The Consumer Financial Protection Bureau (“CFPB”), the controversial brainchild of Senator Elizabeth Warren, filed suit in Chicago Wednesday against Townstone Financial, a small mortgage company, charging “redlining” violations based on political speech and social commentary broadcast on a conservative radio station. The Complaint alleges that statements made about crime in Chicago and support for police discouraged African-Americans from applying to their company and that the fact that their weekly radio show was broadcast on a conservative talk radio station discriminated against African-Americans.
The CFPB’s Director Kathy Kraninger has taken the unprecedented step of filing suit against a small three-person business, accusing it of discrimination based on its political speech about the crime rate and other societal problems in Chicago and in support of police in Chicago. The case is based entirely on the facts that: (1) Townstone advertised primarily on Chicago’s AM 560 “The Answer,” a Salem media radio station; and (2) its owner and staff engaged in speech with which the left disagrees. Essentially, Director Kraninger is saying in this lawsuit that financial institutions are engaging in unlawful discrimination if they advertise too much on conservative media, or if their owners, executives, or staff express conservative political viewpoints such as statements in support of the police. This is the next step in the left’s “cancel culture.” They are now using the enforcement powers of the federal government to attack the free speech that they do not want you to hear.
The CFPB’s legal action has been criticized by free speech advocates, who argue that it violates the First Amendment by compelling speech. The argument is that the government cannot force organizations to suppress any particular message, even if it is in the interest of consumer protection.
The mythical African-American victims…
Like former President Obama’s corrupt Attorney General, Eric Holder, the CFPB is bringing this action to protect mythical African-American victims from abuse even if no actual victims can be found or no harm proven.
Holder believed that policies of financial institutions that might disproportionately affect people of color or other marginalized groups, even if they were not explicitly discriminatory, could still have a discriminatory impact and should be investigated and prosecuted by federal agencies. This led to multi-million dollar “shakedown” settlements with accused financial institutions who would rather curtail legal fees and reputational damage than suffer through a specious lawsuit where they could never recover from the damage inflicted by the government.
Most of the “consent settlements” saw millions of dollars being transferred to race hustlers who purported to provide counseling and racial guidance to the financial organizations or were diverted into contributions to progressive communist democrat organizations that were predominantly “get out the vote” operations.
The case is bullshit…
The CFPB claimed that the offending statements about majority-black communities would somehow “discourage prospective applicants living in the majority- or high-African-American neighborhoods from applying for mortgage loans is farcical as the same applies to every person who would be reluctant to knowingly seek to purchase a long-term investment in a crime-ridden area.
Allowing the CFPB, or any government agency, to control free speech is to mock the U.S. Constitution.
It gets worse, communist redistribution of wealth in the mortgage market…
It is not bad enough that the progressive communist democrats within the Obama-dominated Biden Administration destroyed Trump’s economic recovery after the pandemic but declared war on our energy sector and spurred out-of-control inflation with their outrageous spending that seemed to benefit the progressive communist democrat oligarchs who reaped billions from the ongoing disaster.
Biden rule will redistribute high-risk loan costs to homeowners with good credit.
A Biden administration rule is set to take effect that will force good-credit home buyers to pay more for their mortgages to subsidize loans to higher-risk borrowers.
Experts believe that borrowers with a credit score of about 680 would pay around $40 more per month on a $400,000 mortgage under rules from the Federal Housing Finance Agency that go into effect May 1, costs that will help subsidize people with lower credit ratings also looking for a mortgage, according to a Washington Times report.
The Federal Housing Finance Agency, which oversees federally backed home mortgage companies Fannie Mae and Freddie Mac, has long sought to give consumers more affordable housing options. But those who work in the industry believe the new rules will only serve to frustrate and confuse people.
Under the new rules, consumers with lower credit ratings and less money for a down payment would qualify for better mortgage rates than they otherwise would have.
The progressive communist democrats are destroying our nation by implementing Marxist programs to damage America from within, using our own laws against us to secure their power base and perpetual governance.
For those of us who suffered mightily through the 2008 mortgage meltdown and broader derivative-driven financial collapse, this is beginning to look like the 2008 recession, where people who couldn't actually afford homes were being approved for them in large numbers. It sounds like history is repeating itself, only this time, the damage is intentional.
You can't trust progressive communist democrats with your health, education, finances, or national security. They are less than worthless, they are dangerous.
We are so screwed.
“Nullius in verba.”-- take nobody's word for it!
“Beware of false knowledge; it is more dangerous than ignorance.”-- George Bernard Shaw
“Progressive, liberal, Socialist, Marxist, Democratic Socialist -- they are all COMMUNISTS.”
“The key to fighting the craziness of the progressives is to hold them responsible for their actions, not their intentions.” – OCS "The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius “A people that elect corrupt politicians, imposters, thieves, and traitors are not victims... but accomplices” -- George Orwell “Fere libenter homines id quod volunt credunt." (The people gladly believe what they wish to.) ~Julius Caesar “Describing the problem is quite different from knowing the solution. Except in politics." ~ OCS
“The key to fighting the craziness of the progressives is to hold them responsible for their actions, not their intentions.” – OCS
"The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius
“A people that elect corrupt politicians, imposters, thieves, and traitors are not victims... but accomplices” -- George Orwell
“Fere libenter homines id quod volunt credunt." (The people gladly believe what they wish to.) ~Julius Caesar
“Describing the problem is quite different from knowing the solution. Except in politics." ~ OCS