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‘Why haven’t heads rolled?’ Damning report of continued woes at CFPB

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Mortgage Professional America | 21 Jun 2016, 02:05 PM Agree 0
A recently released report from the Government Accountability Office paints a grim picture of workplace culture at the CFPB – an agency that has already been sharply criticized for alleged discrimination against its own employees
  • Marty | | 21 Jun 2016, 02:57 PM Agree 0
    While I wish that the agency was better run for the sake of its own employees, that has absolutely NOTHING to do with the regulations they create for the benefit of ordinary citizens. This is part of the Republican smokescreen to discredit the CFPB, as you should well know, unless you haven't been reading the papers since the Reps took control of Congress. Do you have the same level of concern about the employees at the Commerce Department, Interior, Agriculture? As a taxpayer, I want these issues to be addressed, but I also don't want the CFPB to budge one inch on regulating on behalf of ordinary taxpayers.
  • Joe | | 21 Jun 2016, 03:15 PM Agree 0
    Aren't the people who are being discriminated against every day in their jobs at the CFPB ordinary taxpayers? Does the government that represents and employs them not owe them the same level of respect and dignity that same governments demands of employers all across the country. The agency can certainly regulate without maintaining a work environment that is abusive to employees of the agency. The referenced report is from the GAO and is not a political report. There isn't an employer in this country who would not be embarrassed and concerned by the facts laid out in that GAO report.
  • Marty | | 21 Jun 2016, 03:38 PM Agree 0
    I agree that the employment issues within the CFPB must be addressed, but you're fooling yourself if you don't think this investigation is part of a politically based scheme to discredit the agency. The Reps have had it in for the CFPB since it was first suggested. Whether the regulations they put in place were created by happy employees is not my first concern. (Again, when was the last time you were worried about the work environment at the FDA? That's not what is behind this.) The agency was created to protect consumers from those entities that would improperly, inappropriately, knowingly separate them from their hard-earned money. Clean up your act, CFPB. There is no excuse for a bad work environment, but don't back off from protecting the little guy.
  • SBHarkness | | 21 Jun 2016, 03:40 PM Agree 1
    I don't have time for long comments but Marty up above talking about the Republican smoke screen is more than likely employed by one of the many needless entities created by the CFPB. I work in the mortgage business and have for 23 plus years as a producing branch manager. I can tell you that I have refinanced many past clients that I know well. They have told me that if they realized how difficult the mortgage process has been made by the CFPB they would have chosen to just pay the higher rate of interest. That statement tells you volumes what is wrong with this agency. The very people they are supposed to protect feel as if they have been violated by the CFPB. Choosing to keep a higher interest rate mortgage than deal with the bureaucracy of the CFPB? That is not good for the economy. The monies free's up from refinancing can be used to buy goods and services produced by other American businesses; at least that is the way it is supposed to work. This rogue agency needs to go the way of the man that penned it, Barney Franks. That Hillary Clinton stands behind this abomination says a great deal what would further happen to the American economy if, God forbid, she is elected President. I guarantee you she would only be a one term President because the American economy would just cease to function as is it has been on life support for the past 7.5 years.
  • Scott | | 21 Jun 2016, 03:44 PM Agree 0
    The CFPB is a corporation comprised almost exclusively of liberals. Liberals... the folks who are supposedly fair, tolerant, non-discriminatory, compassionate, servers of the underserved, etc. etc. This is a perfect example of the lie of liberalism. The corporate culture has been proven over and over again to be despicable because that is the way liberals really treat their fellow man. The CFPB needs to be dissolved.
  • Fred Bastiat | | 21 Jun 2016, 03:58 PM Agree 0
    This agency pledged transparency, traceability of process and due process. As an agency which can "declare" its oversight into ANY nuance of the economy without having to get approval, levy fines in their sole discretion, it can only get worse.

    When the CFPB levies a 10 million dollar fine, who determines where the money is allocated?

    The CFPB. Specifically, its head. As I followed one case, the CFPB did NOT give refunds to the people who were "taken advantage of", but the 1/3 of the money was given to "community action groups" with noticeably political agenda and the balance was retained by the agency into their general operations.

    Do we REALLY want to create such a brazen system which usurps our country's structure and parity of law ??

    Even when courts have ruled a CFPB fine was not proportional to law for the infringement, all they could do was "suggest" adjustment. The head of the CFPB has sole authority. Is that really a good idea for ANY government agency?

    What we have is an inherently flawed structure combined with an arrogant mentality and zero accountability. It has the power of fiat, creating its own currency, more of less by its levies.

    Is the internal strife any surprise with a structure which produces an arrogance of elitism? Not at all. We've seen this a thousand times through out history.
  • little John | | 21 Jun 2016, 04:57 PM Agree 0
    The premise of the CFPB is that people who use financing are dupes. Dupes (products of the Dept. of Education) being taken advantage of by Sharps (too big to fail) who control the money (manufactured by Federal Reserve). Only govt employees (Dept of Alphabet Soup) swinging a mighty sword (made from totally recycled materials) while riding their giant horse (which was not injured during this daring rescue) from the blazing sun (which has no role in global warming) can deliver proper revenge (fines to fill the pockets of the Dept of Alphabet Soup) on the Sharps who do all the harm to the poor, uneducated, woe begotten Dupes living their dreary lives.

    Just caring for the little people (not people that are vertically challenged but low in stature emotionally)...except for the little people working in the CFPB apparently.
  • jas | | 23 Jun 2016, 11:19 AM Agree 0
    When has ANYONE been fired for ANY wrongdoing since 2008?
  • Smh | | 23 Jun 2016, 08:38 PM Agree 0
    The real owners are the big wealthy business interests that control things and make all the important decisions. Forget the politicians, they're an irrelevancy. The politicians are put there to give you the idea that you have freedom of choice. You don't. You have no choice. You have owners. They own you. They own everything. They own all the important land. They own and control the corporations. They've long since bought and paid for the Senate, the Congress, the statehouses, the city halls. They've got the judges in their back pockets. And they own all the big media companies, so that they control just about all of the news and information you hear. They've got you by the balls. They spend billions of dollars every year lobbying ­ lobbying to get what they want. Well, we know what they want; they want more for themselves and less for everybody else."

    "But I'll tell you what they don't want. They don't want a population of citizens capable of critical thinking. They don't want well-informed, well-educated people capable of critical thinking. They're not interested in that. That doesn't help them. That's against their interests. They don't want people who are smart enough to sit around the kitchen table and figure out how badly they're getting fucked by a system that threw them overboard 30 fucking years ago.

    "You know what they want? Obedient workers ­ people who are just smart enough to run the machines and do the paperwork but just dumb enough to passively accept all these increasingly shittier jobs with the lower pay, the longer hours, reduced benefits, the end of overtime and the vanishing pension that disappears the minute you go to collect it. And, now, they're coming for your Social Security. They want your fucking retirement money. They want it back, so they can give it to their criminal friends on Wall Street. And you know something? They'll get it. They'll get it all, sooner or later, because they own this fucking place. It's a big club, and you ain't in it. You and I are not in the big club."

    George Carlin
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