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A top Senate Republican on Sunday said the new consumer agency created by last year’s Wall Street reform law to protect the public from financial fraud was “Stalinist.”

Speaking with David Gregory on NBC’s “Meet The Press,” South Carolina Senator Lindsey Graham defended the GOP’s filibuster this week of the president’s nominee to lead the new body as stemming from concern about its power and independence — exactly the things most consumer advocates think makes it a valuable new tool in an era of Wall Street speculation, predatory lending, and illegal foreclosure.

“This consumer bureau that they want to propose is under the Federal Reserve, no appropriation oversight, no board. It is something out of the Stalinist era,” he said

Of course, this bureau — the Consumer Financial Protection Bureau, or CFPB — is not being “proposed.” It’s the law of the land, has been operating since July without a director, and desperately needs one
to fulfill its legal obligations to the public, especially in their dealings with non-bank financial institutions.

Republican Minority Leader Mitch McConnell echoed Graham’s critique on “Fox News Sunday”, saying the director of the CFPB would be a “czar” and would “answer to no one.”

Video of Graham’s unique take follows:

Visit msnbc.com for breaking news, world news, and news about the economy

Photo by archer10 (Dennis) / CC BY-SA 2.0

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For months, one postal worker had been doing all she could to protect herself from COVID-19. She wore a mask long before it was required at her plant in St. Paul, Minnesota. She avoided the lunch room, where she saw little social distancing, and ate in her car.

The stakes felt especially high. Her husband, a postal worker in the same facility, was at high risk because his immune system is compromised by a condition unrelated to the coronavirus. And the 20-year veteran of the U.S. Postal Service knew that her job, operating a machine that sorts mail by ZIP code, would be vital to processing the flood of mail-in ballots expected this fall.

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