This is what happens when bureaucrats who have never run a business make rules for the rest of us

Skip to comments.

Posted on 12/13/2024 5:23:18 AM PST by MtnClimber

The Consumer Financial Protection Bureau is a bureaucracy created out of thin air by socialist Elizabeth Warren. Democrats pretend the bureau is just there to protect consumers which is B.S. Their budget is not controlled by Congress or anyone. They are funded by the Federal Reserve, which is losing hundreds of billions per year. Most of what they do is protecting their own jobs, and they are very highly paid people. The bureau is just another layer of regulators to whom private businesses have to cater.

The average pay of a CFPB employee in 2023 was $134,723, which is over 70% higher than the median income of a family of four in the U.S. ($78,171), and higher than other government workers:

The average employee salary for the Consumer Financial Protection Bureau (CFPB) in 2023 was $134,723. This is 87.8 percent higher than the national average for government employees and 74.7 percent higher than other federal agencies. There are 1,637 employee records in 2023 for [the] Consumer Financial Protection Bureau (CFPB).

This does not even include their massive pensions and benefits packages. They get raises whether their employer is making money or not.

The bureaucrats put out talking points, and most of the media just repeats what they are told, because they also have no business experience, with a new example seen below:

Overdraft fees could be capped at $5 under new federal rule

Banking customers could save up to $5 billion per year on overdraft fees under a new rule finalized Thursday by the Consumer Financial Protection Bureau.

Rohit Chopra, the director of the government watchdog in charge of protecting the public’s finances, told ABC News the final rule would cap overdraft fees at $5 for many customers.

(Excerpt) Read more at americanthinker.com ...

Click here: to donate by Credit Card

Or here: to donate by PayPal

Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794

Thank you very much and God bless you.

1 posted on 12/13/2024 5:23:18 AM PST by MtnClimber

To: MtnClimber

2 posted on 12/13/2024 5:23:53 AM PST by MtnClimber (For photos of scenery, wildlife and climbing, click on my screen name for my FR home page.)

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

FreeRepublic.com is powered by software copyright 2000-2008 John Robinson