JUNE 2, 2014:
Prescott Lovern, Sr. & R&L Associates Law (R&L) have recently completed an investigation into the CFPB for their premediated, covert, re-writing of the federal Truth-in-Lending Act (TILA) / Regulation Z (Reg. Z) that violates the legislative intent of Congress, without the knowledge of 99.5% of Congressional Members, all for the purpose of covering-up the largest CRIMINAL [Racketeering] ENTERPRISE in the history of the United States, operated by the major banks [too big to fail], VISA, Inc. & MasterCard Interrnational, Inc. [Hundreds of trillions of dollars stollen from VISA / MasterCard Cardholders]. Nothing the CFPB did is retroactive, nor can it be because Dodd Frank is not retroactive; therefore, even with the CFPB’s illegal regulations, they only go forward, not backwards
Unfortunatelly for the CFPB et al, Congress didn’t close the back door with Dodd Frank and recovery of the hundreds of trillions of dollars is still available. Lovern & R&L will be filing a Private Attorney General Lawsuit to seek recovery, which will name CFPB officials.
UPDATE June 2, 2014 – Lovern has already filed a complaint with the Federal Reserve Board’s Inspector General who has oversight under the IG Act for the CFPB.
Lovern & R&L have confirmed that the Financial Stability Oversight Council (Council), whose voting members participated in the the premeditated illegal conduct of the CFPB, are part of the Interchange Fee Conspiracy. As you can see the Council’s voting Members have a vested interest in the Interchange Fee cover-up:
• the Secretary of the Treasury, who serves as the Chairperson of the Council;
• the Chairman of the Board of Governors of the Federal Reserve System;
• the Comptroller of the Currency;
• the Director of the Bureau of Consumer Financial Protection;
• the Chairman of the Securities and Exchange Commission;
• the Chairperson of the Federal Deposit Insurance Corporation;
• the Chairperson of the Commodity Futures Trading Commission;
• the Director of the Federal Housing Finance Agency;
• the Chairman of the National Credit Union Administration; and
• an independent member with insurance expertise who is appointed by the President
and confirmed by the Senate for a six-year term.