Conservative Foundations Finance Push to Kill the CFPB

On March 3, the Supreme Court will hear oral arguments in a case challenging the constitutionality of the Consumer Financial Protection Bureau (CFPB), an agency created in the wake of the 2008 financial crisis to protect consumers against the kinds of predatory financial practices that led to the crash. Since before its founding, conservatives attacked the idea of shielding Americans from exploitation by large financial institutions, claiming increased regulations would hurt the industry.
Until the Trump administration hobbled the agency, it was quite successful, having delivered billions of dollars in financial relief to consumers. Meanwhile, large financial companies didn't seem to notice, continuing to grow throughout the last decade.

Conservative Foundations Finance Push to Kill the CFPB Consumer_financial_protection_bureau

Conservative Foundations Finance Push to Kill the CFPB Consumer_financial_protection_bureau

A constellation of conservative groups has filed amicus briefs backing the plaintiff in Seila Law LLC v. Consumer Financial Protection Bureau. Many of these groups are funded by foundations in the right-wing philanthropic network of billionaire libertarian Charles Koch, a network that has fought the agency for years.
A CMD investigation of federal tax filings has found that since 2014, 16 right-wing foundations have donated a total of nearly $69 million to 11 groups that filed amicus briefs in favor of scrapping the CFPB.
Some of these foundations are directly tied to Koch, including the Charles Koch Foundation, which gave the most money, and the Charles Koch Institute. Others--donor-advised fund sponsors DonorsTrust and Donors Capital Fund--are heavily financed by Koch. Still more, including the Adolph Coors Foundation and the Lynde and Harry Bradley Foundation, are part of the greater Koch political donor network.

https://www.prwatch.org/news/2020/02/13540/conservative-foundations-finance-push-kill-cfpb
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Conservative Foundations Finance Push to Kill the CFPB

Conservative Foundations Finance Push to Kill the CFPB

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