Earlier this year, the Supreme Court unfortunately ruled that the Consumer Financial Protection Bureau is not an unconstitutional agency, in a ruling that perhaps recalls the one that saved Obamacare.

Still, not everyone is willing to let the agency, and Elizabeth Warren protégé director Rohit Chopra, just run wild. The left thought that SCOTUS wrote CFPB a blank check, but of course it didn’t. And Sen. Kennedy is on them like grease on fried chicken.

This didn’t get much attention when it happened — because MSM — but he went after Chopra and said right to his face they are operating illegally.

So Kennedy is pointing out that CFPB is supposed to be funded out of Federal Reserve earnings, per Dodd-Frank. But the Federal Reserve has, since September 2022, been losing money. You know, the opposite of earning it. So why are they still funding CFBP? Or more importantly, IS THAT EVEN LAWFUL?

“How are you entitled to any money right now?” Kennedy asked. “The Federal Reserve doesn’t have any earnings.”

“I know you don’t like to hear this, but the law is the law. You’ve been operating illegally,” he said.

Then at another hearing, Chopra also took a pounding from Missouri Rep. Ann Wagner, who grilled him on a variety of matters including his crusade against so-called junk fees, pressing Chopra on whether his own agency is effectively levying junk fees.

Like most agencies that are political rather than effective, well-run, or even constitutional, the CFPB has only gotten worse under Biden’s mismanagement. The task of protecting consumers from credit card fees – aside form the question “should that even be an agency?” – is to protect the consumers. Not to operate as a pseudo-regulatory agency that punishes businesses that are out of favor and benefits those that are woke, don’t ya think?

Also consider thread open for bidness, y’all.