The Consumer Financial Protection Bureau (CPFB) was originally created by Congress (Elizabeth Warren lead) as a quasi-constitutional watchdog agency to reach into the banking and financial system, under the guise of oversight, and extract money by fining entities for CFPB defined regulatory and/or compliance violations.
Essentially, the CFPB is a congressionally authorized far-left extortion scheme in the banking sector. The CFPB levies fines; the fines generate income; however, unlike traditional fines that go to the U.S. treasury, the CFBP fines are then redistributed to left-wing organizations to help fund their political activism.
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