Obama Proves He's Anti-Small Business As Well

Regulation: President Obama claims to champion small business, yet he's threatening to veto a bipartisan bill to give small businesses and banks a voice in regulation so that new rules won't overburden them and kill jobs.

The White House warned Congress last week that it opposes a bill to make the powerful Consumer Financial Protection Bureau more accountable to small businesses.

HR 1195, which passed by a 235-183 vote margin, would force the CFPB to pay attention to the concerns of small businesses, community banks and credit unions when developing new rules and regulations.

Small business owners, along with the public and press, have been barred from CFPB meetings with radical activist advisors.

CFPB Director Richard Cordray and other top officials met behind closed doors with his hand-picked Consumer Advisory Board, which has undue influence over financial regulatory policy. Secret talks have covered issues ranging from new mortgage regulations to onerous new rules for auto lenders and payday lenders.

It's critical that the financial community knows how these powerful officials are scheming with the radical nonprofit sector to control it. CFPB has the power to regulate virtually every consumer financial transaction in the U.S.

Its 25-member Consumer Advisory Board includes former Acorn activists, trial lawyers who make a living suing banks, and even a member of the Democratic National Committee. Some have taken hundreds of thousands of dollars in federal grant money to gin up housing and lending discrimination complaints.

These radicals not only advise the government on new bank rules but also influence their enforcement actions against creditors.

Right now, CFPB is not consulting with small businesses and lenders before making rules that harm them, even though they make up the backbone of the economy. In 2013, for instance, a small-business man drove to Jackson, Miss., to attend a meeting of the Consumer Advisory Board but was turned away. "We just don't allow anybody from the public into these meetings," Bobby Riggs said he was gruffly told by a CFPB official.

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