Americans are at constant risk of being taken advantage of by unfair practices.
Protect America’s Consumers was formed to protect the hard-earned money of all Americans by educating and empowering them to work together against these practices.
In 2011, Congress created an agency known as the Consumer Financial Protection Bureau, also known as the CFPB.
The intentions of the CFPB were good. They were supposed to help citizens take more control of their personal finances through education.
However, there was just one problem…
When Congress formed the CFPB they didn’t make them accountable to anyone – not even the President.
The CFPB can do whatever it wants, spend what it wants and taxpayers are left footing the bill. There is no one to stop them or tell them “No.”
HOSTILE WORK ENVIRONMENT
- Dozens of official complaints have been filed against the CFPB for both gender and racial discrimination. There’s no sign of it stopping either as the number of complaints nearly tripled last year.
- Women only make up 36% of the “Executive Leadership” of the CFPB and they make up a small percentage of the roles deemed to be “Mission-Critical” to the agency.
- CFPB employees even nicknamed a division with many African-American employees as “the plantation.”
- A former employee even painted a picture where black employees were constantly belittled – even to the point where they were stereotypically offered fried chicken at company lunches.
PADDING THEIR POCKETS
- The CFPB set their own salaries making themselves the most lavishly paid in all of federal government.
- There are nearly 1,500 people who are employed by the CFPB and the average salary is $10,000 every MONTH.
- Hundreds of staffers are paid more than Supreme Court Justices, Members of Congress, and all 50 state Governors.
- Over a dozen staffers that you have never heard of pay themselves more than Vice-President Pence.
LIVING LARGE ON THE TAXPAYERS’ DIME
- The Consumer Financial Protection Bureau spent nearly $216 MILLION of taxpayers’ money to build themselves an unnecessarily lavish office.
- The CFPB office includes a waterfall, exotic plants and a sitting area specifically for “contemplation.”
- To make matters worse, they were only budgeted to spend $55 million. Their spending spiraled out of control on lavish amenities resulting in them over spending by nearly $161 MILLION. To put that in perspective, they could have built four offices for the cost of just this one.
- The Bellagio Hotel & Casino in Las Vegas cost less per square foot to build.
PLAGUED WITH SCANDAL & CORRUPTION
These and other abusive practices have caused the Consumer Financial Protection Bureau to be plagued with scandal & corruption.
The CFPB has destroyed the integrity of what was supposed to be a watchdog for the people and its rich executives have directly profited from the lack of oversight.
How is the CFPB supposed to be responsible for protecting Americans from unfair financial practices, when they have manipulated the system to boost their own bank accounts?
The CFPB does need to clean up its act…
Structural changes to the CFPB are essential.
There is a real problem that needs to be addressed.
I am very much concerned about what is happening at the CFPB.
It is inconceivable that, in this time of tight budgets, we would create a new agency that is completely unaccountable in terms of its budget.