Biden Admin Sued for Allegedly Hiding Records on “Hostile Takeover” of Federal Deposit Insurance Corporation

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  • President Joe Biden’s Consumer Financial Protection Bureau (CFPB) is being sued by a watchdog for allegedly concealing records related to its “hostile takeover” of the Federal Deposit Insurance Corporation (FDIC), according to a complaint obtained by the Daily Caller News Foundation.
  • CFPB Director Rohit Chopra, who sits on the FDIC board, came under scrutiny after trying to launch a public comment on bank merger reforms in December 2021 without the consideration of then-FDIC Chair Jelena McWilliams.
  • The Functional Government Initiative (FGI) filed a Freedom of Information Act request in January for records related to the CFPB’s “unprecedented moves” undermining the FDIC’s independence but has received no records and now filed a transparency lawsuit.
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A government watchdog is suing a federal agency responsible for regulating consumer finance over its alleged stonewalling of records on its “hostile takeover” of the Federal Deposit Insurance Corporation (FDIC), according to a complaint obtained by the Daily Caller News Foundation.

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dailycaller.com/2022/07/14/biden-consumer-protection-agency-lawsuit-fdic-cfpb/

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