Establishment Press Lets CFPB Whistleblower Story Alleging Harassment and Racism Stay Buried at Politico
The primary objection to the Consumer Financial Protection Bureau (CFPB), created as part of the mammoth Dodd-Frank legislation passed in 2010, has been its unaccountability. It “is ensconced within the Federal Reserve,” which frees it from congressional and presidential oversight. Even the Fed “is statutorily prohibited from ‘intervening’ in CFPB affairs.”
It should surprise no one that Richard Cordray, the unaccountable agency’s director, seems to believe that he and his kingdom are untouchable. Cordray, a Democrat who not coincidentally has been mentioned as a possible down-the-road candidate to be Ohio’s governor, has, according to a whistleblower, presided over a “‘pervasive’ culture of intimidation and hostility within the bureau.” Further, according to the Washington Free Beacon’s coverage of the whistleblower’s testimony at a House Committee on Financial Services hearing, Cordray personally told the whistleblower “to have her attorneys ‘back down.’” a Wednesday story at the Politico by M.J. Lee represents nearly the full extent of establishment press coverage I could locate. Excerpts from Lee’s Politico story follow the jump.