Dodd-Frank effectively gave the Consumer Financial Protection Bureau (CFPB) unlimited regulatory power with little congressional oversight. The bureau’s budget is not subject to congressional appropriations—no power of the purse—because the Federal Reserve, not Congress, funds the agency. Given its independence from congressional scrutiny, the CFPB’s power to regulate is essentially a government license to destroy.
Dodd-Frank, however, specifically exempts auto lenders from the grasp of the unaccountable CFPB, but bureaucrats are going around the law and using lenders as agents of government to regulate auto dealers.
It’s time for Congress to reign in this rogue agency.
It’s Episode 54 of the LangerCast, the podcast (and Vlog) of Andrew Langer and Jerry Rogers from the Institute for Liberty. On this episode, Andrew and Jerry break down the Britt McHenry scandal, talk about their own experiences with towing companies in Arlington, VA and elsewhere, and tie this all in with the problems of crony capitalism!
Then they introduce their weekly “Hillary Watch” segment, and talk about how everything one needs to know about Hillary Clinton is there in black and white. (The introduce their Hillary Watch theme, too!)
Then its a discussion of the latest on Iran, how the Bob Corker deal wasn’t a good deal at all… and big congragulations to Erik Telford!
Jerry Rogers joined Focus Today on The DoveTV to discuss the Keystone XL pipeline and energy independence. Opposition to the pipeline is purely ideological–lacking any environmental, political, or economic justification.