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View Diary: Response to: About that boot on your throat (78 comments)

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  •  CPFB isn't funded by Congress. (4+ / 0-)

    The CPFB is funded by taking a percentage of the budget of the Federal Reserve, and its director is the sole appropriator for those funds.

    Their issue is not lack of funding. It is lack of will.

      •  Did you read your own citation? (0+ / 0-)

        That is the House looking to write into the law a restriction on how much the Federal Reserve can provide to the agency. So, once again, Congress does not fund the CPFB though appropriations, making your earlier statement that it lacks funding demonstrably false even by your own article.

        As the law currently stands, the CPFB is adequately funded by the Federal Reserve, not by Congress.

        •  actually (0+ / 0-)

          did you read the citation? The Fed provides only 10% of the funding for the agency now. Most of the rest of the funding came from the Dodd frank bill which was 6 billion below what the president asked for. So according to that article it is not well funded to begin with.

          Also they congress is trying to deny the extra 200 million that congress can provide the fed. Read: " the Fed can go to Congress for an additional $200 million if needed."

          So yes, Congress CAN fund the CFPB.

          •  of course cfpb (0+ / 0-)

            needs a small share of that i.e. 500 million but still there was a lot of compromise made to make this agency which is the result of having republicans in the house and senate.

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