March 5, 2024, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement in response to the Consumer Financial Protection Bureau’s latest regulation on credit card late fees:

“President Joe Biden has decided that the economic distress caused by his economic policies which have led to 45 million people paying credit card late fees each year as they struggle to get by, needs to be blamed on someone, so his proxy, the Consumer Financial Protection Board (CFPB), has finalized a regulation to put the cost of non-payment of credit card debt on the backs of those very bankers who have borne the brunt of last year’s bond crisis.  The net effect of this ill-conceived regulation will be more people will choose credit card delinquency as the insignificant late fee will actually encourage a choice to pay a different bill from the stack in this higher cost and less pay Bidenomics economy.

“Three things that are consistent within the Biden presidency: he will always try to find a way to buy voters’ favor without regard to the consequences, his decisions invariably either make a bad situation worse or create a crisis where none existed before, and it will always be someone else’s fault when his schemes fail.

“The fact that the supposedly extremely powerful, supposedly independent, CFPB is acting in lock-step with Biden’s political vote buying tactics should be a wake-up call to Congress and the Supreme Court who still cling to the illusion that the Agency is free of political influence.”

For media availability contact Americans for Limited Government at media@limitgov.org .

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Nov. 30, 2018, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement urging the Senate to confirm Kathleen Kraninger to be Director of the Bureau of Consumer Financial Protection:

“The Consumer Financial Protection Bureau needs a permanent director and that person is Kathleen Kraninger, who will be able to establish accountability within this agency. While it would be preferable to do away with the CFPB altogether, Kraninger is the right person to ensure that the constitutionally dubious agency is managed so that it doesn’t hurt the economy by picking winners and losers in the financial sector. It is our strong hope that she will be confirmed on the final vote by the Senate, so that she can hit the ground running immediately.”

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 1003 or at media@limitgov.org to arrange an interview with ALG experts.

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July 19, 2018, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement in support of Kathy Kraninger, President Donald Trump’s nominee to head up the Consumer Financial Protection Bureau (CFPB):

“Kathy Kraninger is a long-standing and dedicated public servant who understands that government agencies operate best when they are run efficiently and held accountable. While it is our strong preference that Congress eradicate this too powerful agency before it does lasting harm to our nation, the least we can expect is that while we wait for Congress to act that the Consumer Financial Protection Bureau (CFPB) be managed in a way that doesn’t undermine our nation’s economy by abusing its authority and picking winners and losers in the financial sector.

“Since its inception, the CFPB has operated without proper oversight, which resulted in wasteful agency spending and overregulation that squeezed consumers and brought undue financial punishment to businesses.

“Mick Mulvaney has done an incredible job working to rein in this once unaccountable bureaucracy and as a protégé of Mulvaney, Ms. Kraninger is well suited to continue this difficult but necessary work. Therefore, I urge the Senate to confirm her expeditiously.”

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 1003 or at media@limitgov.org to arrange an interview with ALG experts.

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June 26, 2018, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement in favor of President Donald Trump’s nomination to head the Consumer Financial Protection Bureau, Kathy Kraninger:

“President Trump has chosen current White House budget aide Kathy Kraninger to continue interim Director Mick Mulvaney’s work to reform the powerful Consumer Finance Protection Bureau which was overrun by regulatory and investigatory abuses during the Obama Administration.

“It is not surprising the Senator Elizabeth Warren opposes Trump’s appointment of a budget savvy, accomplished woman to run her brain-child, as the absolute powers of the CFPB head over much of the financial services industry are mind-spinning.

“Perhaps, Warren should have considered the possibility that the Obama Administration would not last forever, and that the faulty command and control policies of the past could be rescinded by a future director. Mulvaney knows the work that lies ahead for the next Director, and his enthusiastic support for and trust in Kathy Kraninger to carry on that work is enough to assure us that she is the right person to enact the many additional reforms necessary to protect the American consumer from a continuation of Obama-era abuses of power.”

Attachments:

“CFPB Whistleblower Exposes Agency’s Extortion Practices,” By Printus LeBlanc, Dec. 20, 2017 at https://tennesseestar.com/2017/12/20/commentary-cfpb-whistleblower-exposes-agencys-extortion-practices/

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 1003 or at media@limitgov.org to arrange an interview with ALG experts.

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Jan. 31, 2018, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement blasting a ruling by the D.C. Circuit Court of Appeals in favor of the single directorship of the Consumer Financial Protection Bureau:

“Today’s decision by the Court is an affront to the many consumers and small businesses who have suffered greatly at the hands of a rogue agency that was supposed to protect consumers from financial abuse. In fact, it was the CFPB’s lack of oversight protection by Congress and the President which allowed Richard Cordray to use the agency as a bank to curry favor with and fund left-wing activist groups as he prepared to run for governor of Ohio. No federal agency should ever be free from transparency and accountability and today’s decision did nothing but reaffirm the public’s distrust of and disdain for our government.”

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 106 or at media@limitgov.org to arrange an interview with ALG experts.

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Dec. 5, 2017, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement mocking Senate Democrats demanding a “bipartisan” director be appointed by President Donald Trump at the Consumer Financial Protection Bureau:

“Yesterday, some 40 senators sent a letter to President Trump calling on him to appoint independent, bipartisan CFPB Director.  Democrats said nothing when Richard Cordray used CFPB to play partisan politics and advance left-wing causes. What a joke. Who do these Senators think they are fooling?

“These Democrat Senators have suddenly found the desire for an independent, bipartisan Consumer Financial Protection Bureau director in the wake of President Trump’s putting current Office of Management & Budget Director Mick Mulvaney into the agency as its acting director.  Prior to President Trump’s election, Democrats in Congress opposed legislation reforming the CFPB by House Finance Committee Chairman Jeb Hensarling which would have created an independent commission similar to the composition of the Equal Employment Opportunity Commission or the National Labor Relations Board replacing the all-powerful director position created under law.  Where were these Democrats then?

“If Democrats are not willing to legislatively fix their own creation, then they should just accept the basic truth that President Obama was heard to tell his critics when he pushed to fundamentally change America, which is that ‘elections have consequences.’

“To put an exclamation point on all this, Acting CFPB Director Mulvaney should settle the lawsuit questioning the constitutionality of the CFPB itself and set a timeline for its being shut down.  Mulvaney should also order a suspension and administrative review of all rules that have been put in place by the Bureau in the past few years.  And finally, the Acting Director should order an audit of every settlement, contractor and major grantee to ensure that monies were only used for the purposes they were given and not for political or personal gain.

Attachments:

“Mulvaney should settle lawsuits challenging CFPB existence,” By Rick Manning, Dec. 2, 2017 at http://www.foxnews.com/opinion/2017/12/02/by-settling-lawsuits-challenging-its-existence-cfpb-can-begin-to-quietly-turn-off-lights.html

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 100 or at media@limitgov.org to arrange an interview with ALG experts.

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Nov. 28, 2017, Fairfax, Va.—Americans for Limited Government President Rick Manning today praised a federal court ruling by Judge Timothy Kelly to uphold President Donald Trump’s constitutional and legal authority to appoint Office of Management and Budget Director Mick Mulvaney to be the acting director of the Consumer Financial Protection Bureau:

“Judge Kelly got it 100 percent correct when he affirmed that President Trump’s authority under federal law to appoint Mick Mulvaney to be the acting director of the Consumer Financial Protection Bureau would likely prevail in a full court hearing. Former agency director Richard Cordray’s political power grab would effectively set the precedent that appointed bureaucrats could choose their successors without any input from elected officials. Cordray clearly was more interested in creating a media crisis to benefit his anticipated run for the Democratic nomination to be governor of Ohio than he was in upholding the rule of law. At this point, newly appointed deputy director Leandra English should cease and desist all efforts to undermine the President’s constitutional and legal authority. If she is unwilling to, she should submit her resignation.”

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 100 or at media@limitgov.org to arrange an interview with ALG experts.

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Nov. 27, 2017, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement on the attempt by former director of the Consumer Financial Protection Bureau Richard Cordray to install his own successor moments before leaving office:

“Rogue Richard Cordray tried to circumvent the law and the authority of President Trump with a nasty political stunt and failed miserably. Not only is Mick Mulvaney rightfully the acting director of the Consumer Financial Protection Bureau, both the CFPB’s own General Counsel and the Justice Department have sided with the Trump Administration on this issue. The court now needs to quickly and forcefully reject Leandra English’s frivolous lawsuit and acting director Mulvaney needs to get to work to roll back the agency’s economy-crippling regulations that Richard Cordray left in his wake. That includes ending a 1,700-page rule to regulate short-term loans and discontinuing the largest government consumer database that currently monitors more than 87 percent of the consumer credit card market, endangering Americans’ financial privacy.

“Additionally, as I’ve stated before, Mulvaney’s appointment should not lessen Congress’ resolve to end the unconstitutional delegation of funding oversight authority that created this regulatory monstrosity of an agency.”

Attachments:

“Now that Richard Cordray is gone, it’s time to undo his work,” By Rick Manning, Nov. 20, 2017 at http://www.washingtonexaminer.com/now-that-richard-cordray-is-gone-its-time-to-undo-his-work/article/2640976

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 100 or at media@limitgov.org to arrange an interview with ALG experts.

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Nov. 24, 2017, Fairfax, Va.—Americans for Limited Government President Rick Manning today issued the following statement in response to Leandra English being named Acting Director of the Consumer Financial Protection Bureau (CFPB.):

“President Trump is the only person allowed to name the new head of the Consumer Financial Protection Bureau (CFPB). Any attempt to circumvent that authority by Cordray runs counter to the fundamental principles of American governance.”

Interview Availability: Please contact Americans for Limited Government at 703-383-0880 ext. 100 or at media@limitgov.org to arrange an interview with ALG experts.

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