Issues: Money in Politics

Donald Trump tries to hide his CFPB record, but the American people won’t be fooled

American Bridge spokesperson Andrew Bates released the following statement after Donald Trump tweeted about news that, under Mick Mulvaney, the Consumer Financial Protection Bureau was considering allowing Wells Fargo to avoid refunding consumers that the bank has already admitted were overcharged:

“A disingenuous tweet cannot hide the obvious truth of Donald Trump’s record. His actions are selling-out the American middle class by tying the hands of the independent agency created after 2008 to safeguard consumers from the worst abuses of the financial sector.  Trump himself said that he was placing Mulvaney at the CFPB specifically to benefit the financial companies that the independent agency was created to be the watchdog of, and numerous reportsshow that’s precisely what Mick Mulvaney is doing. There is an unmistakable pattern here, and the American people won’t be fooled.”

In addition to the Wells Fargo case, it was similarly  Read more after the jump.

Report: Trump’s Undermining Of CFPB Has Wall St. Racing To Avoid Consequences For Defrauding Consumers

American Bridge spokesperson Andrew Bates released the following statement after it was reported that Donald Trump’s tampering with the Consumer Financial Protection Bureau (CFPB) had touched-off a wave of new attempts by the financial industry to evade investigations and penalties for abusive practices that hurt consumers:

“Donald Trump’s economic agenda is a catastrophe for the middle class.  Just as Senate Republicans are on the verge of raising taxes on middle class families while cutting rates for the wealthy and corporations, the financial industry is already trying to take advantage of Trump’s move to gut critical consumer protections against fraud put in place after the 2008 economic crisis. Trump is doubling-down on failed Republican policies that only benefit the 1% and cheating those he pledged to help.”

The CFPB’s enforcement actions have delivered nearly $12 billion in relief for 29 million American consumers. ​

While in Congress, Mulvaney said that the CFPB should not even exist, and called the […]

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Mulvaney STILL Thinks The CFPB Is A “Sick, Sad” “Joke” That Should Not Exist

American Bridge spokesperson Andrew Bates released the following statement in reaction to OMB Director Mick Mulvaney doubling down on his belief that the Consumer Financial Protection Bureau (CFPB) is a “joke” that should not exist:

“If Donald Trump’s power-grab goes through and Mulvaney is allowed to be in charge, middle class Americans and working families are almost certain to lose the protections against abusive practices on the part of banks, credit card companies, payday lenders, and other entities that the CFPB was created to provide.  Trump is undermining the Wall Street reforms passed after the 2008 financial crisis and trying to cripple the CFPB from within – all in the name of partisan politics. This would be a major Wall Street win at the expense of millions of American consumers.”

The CFPB’s enforcement actions have delivered nearly $12 billion in relief for 29 million American consumers. ​

While in Congress, Mulvaney said that the […]

Read more after the jump.

Trump Takes A Dangerous Agenda For Middle Class Families To Capitol Hill

As President Trump meets with Congressional Republicans today to push a tax bill that would enrich the super wealthy by increasing taxes on middle class families, he’s simultaneously ignoring key legislative priorities for working families. Together these moves underscore Trump’s true priorities – working for the rich at everyone else’s expense. 

“Programs that help out millions of people are falling by the wayside because of Donald Trump’s relentless pursuit of tax cuts to benefit the super rich at the expense of the middle class,” said Trump War Room Communications Director Harrell Kirstein. “Nine million kids could lose heath insurance if the Children’s Health Insurance Program, which expired two months ago, isn’t renewed before the end of the year. Trump and the GOP must also act to prevent the deportation of 800,000 Dreamers, renew vital anti-terror intelligence operations, and reauthorize the National Flood Insurance Program after one of the most devastating storm seasons in […]

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Mulvaney took nearly $700,000 in campaign contributions from the industries he’d regulate at CFPB

According to American Bridge calculations using Center for Responsive Politics data, as a member of the U.S. House, Mick Mulvaney accepted $683,973 in campaign contributions from the financial sector, which the Consumer Financial Protection Bureau (CFPB) has regulatory powers over.

While in Congress, Mulvaney Mulvaney said that the CFPB should not even exist, and called the agency a “sick, sad” joke. The 29 million Americans who’ve received almost $12 billion in relief thanks to the CFPB’s enforcement work against financial sector abuses would disagree.

“You couldn’t make this up. Trump’s choice to take over the CFPB, Mick Mulvaney, called the agency a ‘joke’ as he took hundreds of thousands of dollars in campaign contributions from the financial sector it regulates,” said American Bridge spokesperson Andrew Bates. “Trump has outright admittedhis plan is to cripple this independent watchdog in order to increase Wall Street profits. This is more proof that […]

Read more after the jump.

Trump To Sign Pro-Wall Street, Anti-Consumer And Veteran Bill Behind Closed Doors

This afternoon – without press access and behind closed doors – Donald Trump will sign legislation dismantling the Consumer Financial Protection Bureau’s rule against forced arbitration – a practice used by Wall Street banks, credit card companies, and predatory lenders to deny Americans their full legal rights when they are victims of fraud on the part of those companies.

American Bridge spokesperson Andrew Bates responded to Trump’s signing of the bill with the following statement:

“Donald Trump is selling-out middle class families, working Americans, and veterans by signing this dangerous legislation – a key Wall Street lobbying priority – which lets banks and credit card companies evade legal accountability after defrauding their customers. And he’s doing it behind closed doors, hoping that no one will notice. Giving large, financial sector companies the ability to deprive American consumers of fundamental legal rights using fine print is the exact opposite of ‘draining the swamp’ – and it’s […]

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Trump Is Making Millions Off Of His Pay-To-Play Golf Vacations

“This is just the latest proof that Trump is abusing the power of the presidency to make millions off of his time in office. Every time Trump goes golfing at one of his properties, he’s engaging in a corrupt pay-to-play scheme that allows CEOs and lobbyists to funnel millions of dollars into his pocket in exchange for access,” said American Bridge spokesperson Brad Bainum. “It’s all a scam, and the American people are getting screwed while the Trump family makes millions.”

USA Today: Trump gets millions from golf members. CEOs and lobbyists get access to president

By Brad Heath, Fredreka Schouten, Steve Reilly, Nick Penzenstadler, and Aamer Madhani, 9/6/17

Dozens of lobbyists, contractors and others who make their living influencing the government pay President Trump’s companies for membership in his private golf clubs, a status that can put them in close contact with the president, a USA TODAY investigation found.

Members of the clubs […]

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Trump Fed Board “Watchdog” Pick Randal Quarles: A Wall Street Lapdog

Donald Trump is stacking the Federal Reserve Board with a Wall Street crony who will work for big banks at the expense of working Americans. This morning the Senate Banking Committee considered the nomination of Randal Quarles to serve on the Federal Reserve Board of Governors; if confirmed, Qarles would serve as the board’s chief overseer of the financial system, a scary reality considering Quarles has long ties to the banking industry and has advocated for deregulation that could result in another 2008-style financial crisis.

“Nominating Quarles just further proves that Trump is hell bent on appeasing Wall Street at everyone else’s expense,” said Shripal Shah, Vice President of American Bridge. “Quarles isn’t a watchdog, he’s a lapdog, and if he has his way, he’ll further rig the financial system for big banks the moment he gets the chance.  He’s not fit to serve in a regulatory role and the Senate should […]

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NEW FOCUS GROUP RESEARCH: VOTERS ARE TURNED OFF BY THE KOCH AGENDA & THEIR PUPPET CANDIDATES

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For Immediate Release:
November 20, 2015

NEW FOCUS GROUP RESEARCH: VOTERS ARE TURNED OFF BY THE KOCH AGENDA & THEIR PUPPET CANDIDATES

In August, Bridge Project conducted six focus groups with swing voters in Iowa, Florida, and Nevada on the billionaire Koch brothers as they gear up to spend nearly $900 million pushing their agenda and backing their puppet candidates in 2016.

The focus groups revealed that to know the Kochs is to dislike them and that voters are turned off by their harmful, self-enriching agenda. It’s clear to voters that when the Kochs spend millions propping up their puppet candidates, the Kochs “expect something in return.”

To read the focus group memo, click here: http://bp21.co/kochgroups.

“In the eyes of voters, the Kochs’ harmful, self-enriching agenda and the hundreds of millions they spend backing their puppet candidates are strong turnoffs,” said Eddie Vale, Vice President of American Bridge 21st Century. “This research clarifies how Democrats can fight back against […]

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Karl Rove Just Tossed Rob Portman A Casual $1.12 Million

Senator Rob Portman is facing a tough reelection challenge, so Uncle Karl’s lending him a hand in the form of a $1.12-million ad buy.

Karl Rove’s One Nation just “bought $1.12 million worth of television, radio and digital ads advocating for jobs legislation sponsored” by Portman, according to Politico. The ads will run over the next several weeks in an attempt to give Portman a much-needed lift in the polls.

Not a bad haul for Portman: The $1.12-million assist significantly surpasses the $800K Rove dished out to both Roy Blunt and Joe Heck last week.

Apparently Karl Rove thinks Portman is just that much more vulnerable — Karl Rove can’t afford to lose a senator who so diligently prioritizes an out-of-state big money special-interest agenda over the needs of Ohio working families.

Background from Conservative Transparency:

One Nation is a nonprofit 501(c)4 addition to Karl Rove’s “constellation of Crossroads organizations.” The group “aims to advance well-constructed solutions to our country’s most […]

Read more after the jump.