Let's start with Gingrich. He is a lobbyist for a fairly unknown organization. He doesn't like talking about it either.
Gingrich wants the CFPB dismantled. That isn't anything new, however, it is the way he is going about it that is the concern.
Gingrich wants the CFPB dismantled. That isn't anything new, however, it is the way he is going about it that is the concern.
December 17, 2015
By Eric Hananoki
A House hearing (click here) called out witness Newt Gingrich for his shady financial dealings seeking to undermine the work of the Consumer Financial Protection Bureau (CFPB).
Gingrich, who works as a Fox News contributor and Washington Times columnist, appeared as a witness before a December 16 House Financial Services Subcommittee on Oversight and Investigations hearing entitled, "Examining the Consumer Financial Protection Bureau's Mass Data Collection Program." During the hearing, Gingrich attacked the pro-consumer bureau for purportedly being "dictatorial" in its collection of consumer data.
Gingrich has worked as a paid adviser for the U.S. Consumer Coalition, a secretive group that is attempting to dismantle the CFPB. Gingrich is also a paid adviser to Wise Public Affairs, whose clients include the U.S. Consumer Coalition. (Gingrich acknowledged his connections to both groups during the hearing.)
While Gingrich claimed during the hearing that he wasn't trying to be secretive about his anti-CFPB financial connections, that wasn't the case this summer. Gingrich wrote a July 1 Wall Street Journal op-ed attacking the CFPB and promoting the U.S. Consumer Coalition. The op-ed did not disclose any of his financial ties, simply identifying Gingrich as a former House speaker. Following criticism by Media Matters and The Washington Post's Erik Wemple, the Journal issued an "amplification" that he is "a paid adviser to Wise Public Affairs, whose clients include the U.S. Consumer Coalition, which opposes some policies of the Consumer Financial Protection Bureau."...
If this wasn't so serious it would be funny. The US Consumer Coalition has a strategic plan for the CFPB because of a government program called "Operation Choke Point." (click here).
April 16, 2014
The Justice Department has been waging a campaign to cut off scammers' access to the financial system for the past year. Through "Operation Choke Point," prosecutors are investigating whether third-party processors that route payments for merchants through banks are ignoring signs of fraud to rake in fees from transactions.
Authorities have publicly said they are focusing on "high risk" activities -- potentially predatory activities like payday lending, as-seen-on-TV retailers and Internet gambling. Those categories, according regulators, have high rates of returns for unauthorized debit transactions, an indication of fraud.
So far, Justice has launched several criminal and civil investigations as well as issued 50 subpoenas to banks and payment processors. The effort has riled industry groups, Congressional Republicans and some Democrats, who say the Obama administration is trying to shut down legitimate businesses it deems undesirable, like payday lenders....
This article from "The Washington Post" is worth reading in its entirety as it carries a new brand of information most consumers haven't been familiar with such as "Electronic Transaction Association" (ETA) (click here).
It is a little bit of a strange association or perhaps a new because when reading their "vision statement" it states "ETA's envisioned future is:." And that is it. As of today there is no vision statement of the ETA. And it is suppose to be an international association. I've never heard of it before, but, it is a financial concern that rarely makes headlines and probably cooperates with government and business regarding shady and illegal practices. I would think this organization would be heavily relied upon in issues of identity theft.
This organization would probably have a lobbyist because most governments are interested in developing a "transaction tax," that would provide relief to treasuries. Such a tax would allow governments to provide funds that could accumulate to protect their citizens from future financial folly. I would think such a tax would be introduced soon because the debt of the banks since 2008 has increased exponentially.
The issue is that the former Speaker Gingrich is not forthcoming in his correct affiliation with U.S. Consumer Coalition in a recent hearing of the US House Finance Committee.
Gingrich, who works as a Fox News contributor and Washington Times columnist, appeared as a witness before a December 16 House Financial Services Subcommittee on Oversight and Investigations hearing entitled, "Examining the Consumer Financial Protection Bureau's Mass Data Collection Program." During the hearing, Gingrich attacked the pro-consumer bureau for purportedly being "dictatorial" in its collection of consumer data.
Gingrich has worked as a paid adviser for the U.S. Consumer Coalition, a secretive group that is attempting to dismantle the CFPB. Gingrich is also a paid adviser to Wise Public Affairs, whose clients include the U.S. Consumer Coalition. (Gingrich acknowledged his connections to both groups during the hearing.)
While Gingrich claimed during the hearing that he wasn't trying to be secretive about his anti-CFPB financial connections, that wasn't the case this summer. Gingrich wrote a July 1 Wall Street Journal op-ed attacking the CFPB and promoting the U.S. Consumer Coalition. The op-ed did not disclose any of his financial ties, simply identifying Gingrich as a former House speaker. Following criticism by Media Matters and The Washington Post's Erik Wemple, the Journal issued an "amplification" that he is "a paid adviser to Wise Public Affairs, whose clients include the U.S. Consumer Coalition, which opposes some policies of the Consumer Financial Protection Bureau."...
If this wasn't so serious it would be funny. The US Consumer Coalition has a strategic plan for the CFPB because of a government program called "Operation Choke Point." (click here).
April 16, 2014
Many, many millions of transactions course (click here) through payment systems at any given time. Most are on the up and up, of course. But according to the government, a growing number are the product of identity theft, money laundering or fraudulent schemes.
Authorities have publicly said they are focusing on "high risk" activities -- potentially predatory activities like payday lending, as-seen-on-TV retailers and Internet gambling. Those categories, according regulators, have high rates of returns for unauthorized debit transactions, an indication of fraud.
So far, Justice has launched several criminal and civil investigations as well as issued 50 subpoenas to banks and payment processors. The effort has riled industry groups, Congressional Republicans and some Democrats, who say the Obama administration is trying to shut down legitimate businesses it deems undesirable, like payday lenders....
This article from "The Washington Post" is worth reading in its entirety as it carries a new brand of information most consumers haven't been familiar with such as "Electronic Transaction Association" (ETA) (click here).
It is a little bit of a strange association or perhaps a new because when reading their "vision statement" it states "ETA's envisioned future is:." And that is it. As of today there is no vision statement of the ETA. And it is suppose to be an international association. I've never heard of it before, but, it is a financial concern that rarely makes headlines and probably cooperates with government and business regarding shady and illegal practices. I would think this organization would be heavily relied upon in issues of identity theft.
This organization would probably have a lobbyist because most governments are interested in developing a "transaction tax," that would provide relief to treasuries. Such a tax would allow governments to provide funds that could accumulate to protect their citizens from future financial folly. I would think such a tax would be introduced soon because the debt of the banks since 2008 has increased exponentially.
The issue is that the former Speaker Gingrich is not forthcoming in his correct affiliation with U.S. Consumer Coalition in a recent hearing of the US House Finance Committee.
The problem is Newt Gingrich, the U.S Consumer Coalition and the Chairmen of this committee are making very serious allegations.
