It is referenced at chairman Jeb Hensarling website (click here).
The hearing raised more questions than it answered. It would seem as though the financial services industry is on witch hunt. There is more than just this committee hearing involved.
The hearing raised more questions than it answered. It would seem as though the financial services industry is on witch hunt. There is more than just this committee hearing involved.
But, as to this committee hearing on December 16, 2015:
The American Bankers Association wants to get rid of the Consumer Financial Bureau and replace it with a bipartisan commission. It would seem as though Minority Speaker would prefer to have a bipartisan something in place in case there is ever a Republican President.
The Kato Institute says the consumer information gathered by the Consumer Financial Bureau is unnecessary.
There is something that occurred to me; does anyone ever ask the FCB if it ever submits information regarding terrorist networks?
There is something that occurred to me; does anyone ever ask the FCB if it ever submits information regarding terrorist networks?
Mr. Deepak Gupta, a witness, having served on the CFB states to the best of his knowledge the many privacy breeches of consumers in the USA were never investigated by this Congressional Committee. Committee member French Hill of Arkansas stated there was a committee hearing in regard to the security breaches at "Target."
Mr. Deepak Gupta, also states the accusations about the CFB and data collection are nothing but lies. He states there is absolutely no personal identity collected by the CFB. The GAO (The Government Accountability Office) states that is accurate.
Now I would expect someone from the GAO at the witness table, but, there is no one called to testify to that effect.
Mr. Deepak Gupta, also states the accusations about the CFB and data collection are nothing but lies. He states there is absolutely no personal identity collected by the CFB. The GAO (The Government Accountability Office) states that is accurate.
Now I would expect someone from the GAO at the witness table, but, there is no one called to testify to that effect.
Mr. Gingrich didn't directly answer in that he works for a PR firm hired by U.S. Consumer Coalition. Rep. Maxine Waters asked him three times to clarify his relationship with the coalition. After the third question on the same subject, Texas Rep. Al Green stated he read an article in the Wall Street Journal naming the former Speaker Gingrich as a member of a PR firm working for the promotion of the opposition to the CFPB. It was also stated the Republican Majority has made the CFB a top priority.'=
Evidently, the decision to attack the CFPB was make during a meeting of "Republican Study Committee." (click here) That is an organization I had never of before either. There are 172 members of this Congress belonging to the Republican Study Committee.
The Republican Study Committee reviews every bill and amendment that the House votes on. The RSC inspects legislation for Conservative concerns including: expanding the size of the Federal government, violating Federalism, delegating authority to the Executive Branch and the presence of earmarks. Bulletins are exclusive to members for a short period.
It would seem as though this study committee is where all the obstruction is produced. Who knew and what is that "short period of time." all about. Who gets this publication other than ELECTED House members?
But as to the committee hearing, there were no cyber experts as witnesses that are utilized in any mass collection of data. The former Speaker suggested calling an independent agent such as Carnegie Mellon. There was also no one from the CFPB as a witness. No one discussed a budget for the independent inquiry of such an organization as Carnegie Mellon. The former Speaker thinks he is still leading the House for some reason. The former Speaker also offered up having the NSA review the collection data. If found that amusing. On one hand Mr. Gingrich states the any collection data at the CFPB has to end, but, then he offers the NSA as an expert to review the information at the CFPB.
????????????? Hm. ??????????????????
Mr. Gingrich also stated if there is to be such a bureau as the CFPB, it's budget should go through appropriations. That was also very amusing, because, the same day Majority Leader of the Senate Mitch McConnell stated it has been twenty years since Congress managed the federal budget through appropriations and beginning in 2016 he wants to re-ignite the practice. Isn't that a coincidence, huh?
Stephen Lee Fincher of Tennessee stated the American people are smarter than they are given credit for and it was needed his practice by the CFPB be called out to alert consumers before the elections of 2016.
