I have to admit that I was unaware of this at the time, but apparently during the administration of he who shall go unnamed, the Supreme Court ruled that legislation shielding the director of the Consumer Financial Protection Bureau from being fired was unconstitutional. They did it so the genius could replace a rational person with an anti-consumer zealot.
In the precious time allotted to her, Kathleen Kraninger, the zealot in question, has compiled quite a record:
Kraninger, who had no previous experience in consumer protection, immediately tried to undermine the agency’s role as a watchdog for the financial sector. She scrapped a landmark rule that restricted predatory payday lending, pressuring staff to downplay the resulting harm to consumers. And she refused to enforce a federal law that protected military personnel against a broad range of predatory lending. Her decision yanked federal support from military families who were defrauded by lenders. In the midst of the pandemic, Kraninger also approved a rule that allows debt collectors to harass Americans with limitless texts and emails demanding repayment.
Now, Joe Biden has taken advantage of that ruling, and has fired that very zealot.
So the question arises: How will the Supreme Court verbalize a reason for overturning Biden’s action without explicitly saying that it should have been understood that the ruling only applied to Republican Presidents? Who knows, we may find out soon.
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