It’s so hard to keep up with the corruption in our government. I’m sure we’ve already covered how the Justice Department has been shaking down banks to funnel money to left wing groups. Now the Consumer Financial Protection Bureau is doing the same thing. What a racket!
Now, a little-noticed item on the CFPB’s website reveals the powerful new agency is launching its own scheme to provide backdoor funding for nonprofit urban groups politically aligned with Democrats.
The CFPB plans to create a so-called Civil Penalty Fund from its own shakedown operations targeting financial institutions. Through ramped-up (and trumped-up) anti-discrimination lawsuits and investigations, the agency will bankroll some 60 liberal nonprofits, many of whom are radical Acorn-style pressure groups. It says these organizations will provide “financial coaching” for low-income homebuyers, as well as “housing and social services.”
But their activities are more political than charitable. IBD obtained a list of groups eligible for the bank payola, as approved by CFPB Director Richard Cordray and Labor Secretary Thomas Perez.
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