Republican Louisiana Sen. John Kennedy accused the Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra on Wednesday of operating his agency in an illegal manner.
The Dodd–Frank Wall Street Reform and Consumer Protection Act mandates that the CFPB operate using funds from the “combined earnings of the Federal Reserve System.” However, Kennedy alleged during a CFPB “Semi-Annual Report to Congress” hearing that the Federal Reserve has not had any earnings and has been “losing money” since September 2022, claiming that this means the CFPB is “operating illegally.”
Too bad for Kennedy that courts have repeatedly upheld the CFPB. He’s such a dope.
I think he’s great!
The whole government is operating illegally under an illegitimate “president”.