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ProSense

(116,464 posts)
42. The First Year of the Consumer Financial Protection Bureau: An Overview
Thu Apr 10, 2014, 07:20 PM
Apr 2014
The First Year of the Consumer Financial Protection Bureau: An Overview

The longest lasting legacy of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank Act”)1 may be the creation of the Bureau of Consumer Financial Protection (“CFPB”). First proposed in 2007 by Professor Elizabeth Warren,2 the agency materialized remarkably quickly, being enacted into law in 2010.3 Although it came together quickly, the CFPB was built to last. The Dodd-Frank Act provides it with broad authority, secure funding, and a powerful, independent director.4

That's from the source at your link. Again, this agency is the in place because of the President's Wall Street reform.

There is no question that Dodd-Frank was a strong bill—the strongest in three generations. I didn’t have a chance to vote for it because I wasn’t yet in the Senate, but if I could have, I would have voted for it twice.

http://www.warren.senate.gov/files/documents/AFR%20Roosevelt%20Institute%20Speech%202013-11-12.pdf


One of my favorite clips



Elizabeth Warren: Cordray Vote ‘A Historic Day For Working Families’

Sen. Elizabeth Warren (D-MA) took to Twitter on Tuesday in praise of the Senate's vote to advance Richard Cordray's nomination to the Consumer Financial Protection Bureau, calling it a "historic day for working families."

Elizabeth Warren ✔ @elizabethforma

I couldn't be more pleased that Rich Cordray will finally get the vote that he deserves. This is a historic day for working families!
1:11 PM - 16 Jul 2013

47 Retweets 26 favorites

http://livewire.talkingpointsmemo.com/entry/elizabeth-warren-cordray-vote-historic-day-for-working

Thank you Senator Warren.

Obama's CFPB under Richard Cordray "took $800 million from Bank of America"

More:

CFPB Sues ITT Tech For Allegedly Exploiting Students, Pushing Predatory Loans
http://www.democraticunderground.com/10024570346

Sen. Warren Praises New CFPB Mortgage Rules that Make Families, Economy Safer
http://www.democraticunderground.com/10024295777

Banks Ordered to Add Capital to Limit Risks
http://www.democraticunderground.com/10024798328

Recommendations

0 members have recommended this reply (displayed in chronological order):

Gee, ProSense Apr 2014 #1
Just let Manny dream... Because giving credit to the President is his worst nightmare. tridim Apr 2014 #17
Unlike the mindless worshippers huh? Corruption Inc Apr 2014 #18
I don't worship anyone or anything. WTF are you talking about newbie? tridim Apr 2014 #19
Your pathetic mewling turns my stomach psiman Apr 2014 #31
Excuse me? sheshe2 Apr 2014 #48
Nobody who would appoint Tim Geithner, Larry Summers and Robert Rubin... Chan790 Apr 2014 #20
What about someone that ... 1StrongBlackMan Apr 2014 #21
Yeah, what about someone ProSense Apr 2014 #24
Not hilarious; but rather, sad ... 1StrongBlackMan Apr 2014 #26
More baseless personal attacks MannyGoldstein Apr 2014 #38
I've been politically rick-rolled. Gravitycollapse Apr 2014 #2
Yes and all the while Goldman-Sachs is giving Ms. Clinton $400,000 for having tea and crumpets rhett o rick Apr 2014 #3
I don't want her allegiance. Chan790 Apr 2014 #22
she doesn't have to take anyone' money, she's independantly wealthy dionysus Apr 2014 #4
I imagine the next presidential election will roll over $5 billion. fleabiscuit Apr 2014 #7
Like FDR, Warren's a traitor to her class. MannyGoldstein Apr 2014 #8
FDR's opponent's called him a communist, but in reality he saved the American free enterprise system StevieM Apr 2014 #13
Same liberal rating as Third Way Mark Udall... joshcryer Apr 2014 #12
Warren is bought and paid for demwing Apr 2014 #5
Ha! Won't the Purity Democrats' head's explode when they see MannyGoldstein Apr 2014 #9
follow the money demwing Apr 2014 #16
Well there you go right there then. zeemike Apr 2014 #6
And Hilary Clinton takes money from corporations and keeps it. Vashta Nerada Apr 2014 #10
No arrests? joshcryer Apr 2014 #11
What a hypocritical harpie! Damn her for being good to the ones the banks fucked over Nanjing to Seoul Apr 2014 #14
Saw an Elizabeth Warren for President 2016 bumper sticker today in Los Angeles. cui bono Apr 2014 #15
Manny, didn't President Obama start the CFPB ... 1StrongBlackMan Apr 2014 #23
Just an oversight, I'm sure. nt tridim Apr 2014 #27
k&r nt Zorra Apr 2014 #25
I see what you did there... Agschmid Apr 2014 #28
What do you see ... 1StrongBlackMan Apr 2014 #29
Whose idea was the CFPB? nt MannyGoldstein Apr 2014 #33
Well ... 1StrongBlackMan Apr 2014 #34
You really love personal attacks, don't you? MannyGoldstein Apr 2014 #35
Personal attacks? ... Whine/Cheese ... 1StrongBlackMan Apr 2014 #36
Again with the personal attacks. Really uncool. MannyGoldstein Apr 2014 #37
Okay ... 1StrongBlackMan Apr 2014 #39
The First Year of the Consumer Financial Protection Bureau: An Overview ProSense Apr 2014 #42
Who is responsible for securing the fines? ProSense Apr 2014 #43
Absolutely, but that wouldn't have worked for this OP's schtick MannyGoldstein Apr 2014 #44
Kicked and recommended a whole bunch. Enthusiast Apr 2014 #30
My head is spinning, but I think this is worth a DU Rec erronis Apr 2014 #32
<3 AtheistCrusader Apr 2014 #40
Manny Goldstein promotes lies. idendoit Apr 2014 #41
Very clever!!!! And very well said! emsimon33 Apr 2014 #45
Democratic leadership refuses to prosecute powerful people. Just think if Govt. worked as hard pragmatic_dem Apr 2014 #46
Meanwhile, apparently Hilary remains in the bunker. rgbecker Apr 2014 #47
lol (nt) Babel_17 Apr 2014 #49
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