See what a King and his Minion do to overstep Congress and the Constitution:
………….This unprecedented rule created by the CFPB grants the agency unilateral authority to literally shut down any business overnight. It is a doubling down of Operation Choke Point (OCP), the Administration’s program to target lawful industries by intimidating banks from doing business with them. This rule allows the CFPB to immediately issue a cease-and-desist order, which terminates all business practices — and a hearing doesn’t have to be granted for 10 days, effectively shutting down businesses for at least 10 days. This is a ‘guilty until proven innocent’ tactic of the Administration that goes against every historical notion of justice under the law in America.”
“The Administration got caught with their illegal intimidation tactics in Operation Choke Point, and now they are taking radical steps to ensure the goals of shutting down these lawful businesses are met. This is just the next step in using unaccountable agencies, with their ever-expanding agency powers, to meet the political goals of the Administration. This is a much more efficient way of shutting down lawful industries than just relying on intimidation. It is also no coincidence that this rule was released the day that CFPB Director Richard Cordray finished testifying at oversight hearings on the Hill.”
“This is a direct attack on every free-market business in America, and every single business should be alarmed. No business should have to operate while questioning daily whether or not they will be the victim of a cease-and-desist order. This will cause uncertainty on Wall Street and uncertainty in the job market, leading to a loss of jobs and devastating the families that rely on them, while irreversibly damaging the economy and threatening consumer choice.”
http://gulagbound.com/45286/doubling-down-on-operation-choke-point/
muttkat1 