(National Sentinel) Right-Leaning: President Donald J. Trump has made great progress in dismantling the Left-leaning agenda of his predecessor, former President Barack Obama, and is continue to make good progress in returning the country to a more conservative, constitutional footing, according to former House Speaker Newt Gingrich.
“While the mainstream media has fixated on exaggerated day-to-day mini-controversies, the Trump Administration has methodically eliminated job-killing Obama-era regulations, filled judicial vacancies with solid conservatives at an astonishing pace, and accomplished real breakthroughs in trade relations with China and the Middle East,” he wrote in a column for Fox News, where he is a contributor.
Now, he noted, Trump is working to neuter the Consumer Financial Protection Bureau, a creation of the so-called “Dodd-Frank” financial reform legislation Obama signed into law in 2010 following the financial crisis of 2008.
Gingrich said he’s been a longtime opponent of the CFPB because he believes it is unconstitutionally unaccountable to Congress, and by design.
Earlier this week Trump named Mick Muvaney, former head of the Office of Management and Budget, to lead the CFPB. That appointment is being challenged by Leandra English, the agency’s deputy director, in a lawsuit. English was appointed by outgoing director Richard Cordray, who claimed the 2010 law gives him, not the president, the authority to name successors.
U.S. District Judge Timothy Kelly ruled against English this week and refused to issue a temporary restraining order that would prevent Mulvaney from taking over while allowing her to assume the role of acting director.
“The CFPB consistently oversteps its bounds. It is prohibited from regulating car deals, yet it does so anyway. It is prohibited from collecting personal data from consumers, yet it does so at a scale that rivals the NSA’s most controversial data gathering operations,” Gingrich wrote.
“Further, the CFPB draws its funding from the Federal Reserve’s operating expenses rather than annual appropriations – making it unaccountable to Congress,” he said.
Additionally, the writers of the Dodd-Frank legislation added provisions stating that only a president can remove a CFPB director, and even then only under certain conditions.
That also unconstitutionally limits Executive and Legislative Branch authorities, Gingrich wrote.
“Essentially, the bureau can do whatever it wants – without fear of losing its funding or its leadership,” he said.
But he added that Trump has already prevailed in court by having his appointment of Mulvaney, a staunch critic of the bureau, upheld for the time being.
Now, “Congress and the President should now work to abolish the CFPB as soon as possible, or at the very least, bring this rogue agency back under the rule of law,” says Gingrich.