Sen. Elizabeth H. Warren (D.-Mass.) and Sen. Brian E. Schatz (D.-Hawaii) have proposed the Freedom From Equifax Exploitation Act, but the real exploitation is Warren and her co-sponsor leveraging Equifax’s breach of personal information to expand the reach of Warren’s own creation: the Consumer Financial Protection Bureau.
For people, who have not heard of the CFPB, this rogue agency has morphed from its original intention of protecting consumers to becoming an agency that fights for powerful interests under the guise of consumer protection.
According to Forbes:
[The CFPB] has issued contentious rules, tortured data to make other rules, engaged in an extravagant spending spree, and even found itself blasted by the Government Accountability Office (GAO) for employment discrimination. Nobody has ever made a strong case that the pre-Dodd-Frank framework failed, much less that a new federal agency was necessary to protect consumers. CFPB advocates act as though there would be no consumer protection in financial markets without this government agency, but that’s demonstrably false.
Warren’s FREE Act would open the door to excessive regulation of a credit industry that provides a critical service to the markets.
The FREE Act mandates that credit agencies provide credit freezes and unfreezes free of charge, in addition to a number of other huge regulatory increases.
The bill seems innocent enough on the surface, but the broader intentions of Warren’s bill take a bit of deeper digging to find.
Warren has said she is intent on transforming the entire industry and the ultimate goal argued that this whole industry should be completely transformed,” she didn’t mean it lightly. This is simply the first of many steps in a federal takeover of the financial reporting industry.
If many Americans no longer trust Equifax with their personal information, then they would be no wiser to trust the federal government with their personal information.
Only the federal government and crony capitalist lobbyists, not consumers, will benefit from this new legislation.
After what was undoubtedly a horrific breach of consumer privacy, something must be done. Conservatives should support a free market-oriented solution to this problem, instead of an ineffective left-wing power grab.
Luckily, we already have an example to follow.
Pennsylvania lawmakers have proposed a more balanced bill, PA House Bill 1847, that could serve as a model for federal law. The bill outlines specific policies for dealing with credit breaches, and requires that credit agencies affected by a breach provide free credit monitoring for three years.
This is a smarter solution because instead of blanketly forcing all credit agencies to provide free credit monitoring, under the stern supervision of the CFPB no less, it incentivizes credit companies to increase their security and avoid a costly breach.
House and Senate Republicans need to vote down Warren’s the FREE Act, and introduce conservative legislation at the federal level that gives power back to the consumers, instead of to the bloated CFPB.
ANOTHER PHONY? Sen. Josh Hawley Does Nothing to Oppose Big Tech Visa Giveaway for Indian Nationals
Hawley’s silence is deafening.
Yesterday, Sen. Mike Lee (R-UT) was able to pass S. 386 with unanimous consent in the Senate. The legislation is a green card giveaway lobbied for by Big Tech that will flood America with cheap Indian labor and displace native workers.
Lee has been exposed as a lawmaker who is in the back pocket of Silicon Valley monopolists at war with the Bill of Rights and Constitution:
Tucker Carlson Exposing @SenMikeLee for Big Tech Flip Flop
Tucker then slams "Conservative" DC Think Tanks for telling us that worrying about Big Tech was "socialist" & "un-American":
— The Columbia Bugle 🇺🇸 (@ColumbiaBugle) August 21, 2019
While it is expected that Lee would completely sell America out, the silence from his colleagues who have claimed to vehemently oppose Big Tech has been far more suspicious. The unwillingness of Sen. Josh Hawley (R-MO) to oppose the measure has caused him to lose credibility among the populist “America First” base.
.@HawleyMO built his entire reputation as the Republican who wants to take on big tech. He couldn't even must up an objection against a bill that gives them a mass amount of cheap labor. https://t.co/nzhHwXtIir
— Ryan James Girdusky (@RyanGirdusky) December 2, 2020
It's been a day and @HawleyMO still hasn't said anything about S. 386. Next time he says he's fighting against Big Tech, don't believe him
— Ryan James Girdusky (@RyanGirdusky) December 3, 2020
— Krissy🇺🇸 (@krissyD_USA) December 3, 2020
Josh Hawley when he is talking about hong kong vs big tech visas. pic.twitter.com/gpyfzuv8kp
— American Lad 🇺🇸 (@AmericanLadz) December 3, 2020
@HawleyMO #eGOP dispenses chaff and countermeasures to obscure that he as every other #ControlledOpposition McConnell Senate Cartel #Oathbreaker knowingly allowed #MumbaiMikeLee’s giveaway to #TechLords and foreigners.
— David P. Duffy (@DavidPDuffy25) December 3, 2020
Big League Politics reported on how not one GOP senator had the courage to offer opposition to Lee’s big government giveaway to third-world foreigners at the behest of tech corporations who hate free speech:
Utah Senator Mike Lee succeeded in passing legislation in the Senate that would eliminate per-country-caps on recipients of H-1B visas on Wednesday, a policy change that would effectively monopolize the visa system for nationals of large countries such as India.
The Fairness for High-Skilled Immigrants Act has been called the greatest corporate welfare program for Big Tech in recent memory. Lee has persistently sought to pass the corporate giveaway, with previous attempts to eliminate per-country-caps being blocked by Democrat Dick Durbin and Republican Rick Scott. Neither Senator objected to the unanimous passage of the modified S386 legislation on Wednesday afternoon.
Big Tech monopolies such as Apple, Google and Microsoft have fervently lobbied in favor of eliminating per-country caps, seeking to replace their American workforces with de facto indentured workers who accept lower wages and worse working conditions. The pervasive use of the H-1B visa in the American technology industry has displaced countless American workers from their careers.
Lee’s giveaway doesn’t specifically raise annual H-1B visa rates, although an increase in numbers of visa workers would be a likely consequence of its enactment. It’s expected that the program will be dominated by Indian nationals in the event that Lee’s HR1044/S386 is signed into law, providing massive corporations with a considerable labor pool willing to work for less in return for an American visa.
The legislation was most recently updated with a provision blocking Chinese nationals from using the H-1B program. This provision appears to have been instrumental in securing its passage through the Senate.
It appears that Hawley is attempting to co-opt President Trump’s movement without offering much of anything in terms of real substance.
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