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House passes bill that would slash CFPB funding -- but Obama promises veto

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Mortgage Professional America | 24 Apr 2015, 06:27 AM Agree 0
An amendment to a recently passed house bill would slash funding for the CFPB by up to $100 million -- but the White House says it will nix the bill if it comes to Obama's desk
  • | | 24 Apr 2015, 09:40 AM Agree 0
    “This bipartisan legislation will restore balance, continuing strong protections for consumers while allowing small businesses the freedom to grow and create good-paying jobs,” said Rep. Robert Pittenger (R-N.C.), the bill’s sponsor. Interestinh how that same sponsor could vote for HR 685 which would circumvent RESPA and eliminate some consumer protections under the veil of "Holding Companies" and allowing Kickbacks.
  • | | 24 Apr 2015, 01:37 PM Agree 0
    I couldn't help but reply, too much today. The sponsor of this Bill clearly did not realize the cfpb is in the middle of hiring a whole group of attorneys. Of course the Pres is going to VETO this one, the numbers are down at the cfpb due to back log and you think the Pres. doesn't want those numbers back up in 2015. Only way to do that is with money to pay and create paying jobs there too.
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