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September 3, 2020
Of course, by this time around Hodges had employed a full-time lobbyist to focus on the rule. Though he told the Post which he never ever “lobbied the management, ” in 2017 he hired Al Simpson, completely coincidentally the previous chief of staff to Mick Mulvaney as he served in Congress. Simpson’s lobbying work centered on the “small dollar rule, ” also referred to as the lending rule that is payday. He received $350,000 from 2017 to 2019 for his efforts. In which he had conferences at the White home, where Mulvaney works, at the least 14 times in that period, in accordance with White home visitor logs. He appeared on Mulvaney’s calendars in one single duration in 2017 “more usually than anybody who just isn’t a present federal government employee. ”
Hodges didn’t stop with lobbyists. Between February 2019 and after this, he along with his spouse Tina have actually contributed $688,800 to Republican prospects for Congress, the Republican campaign arm of the home, the Republican nationwide Committee, the Trump Super PAC America First Action, along with other conservative governmental action committees. Hodges also hosted a fundraiser in Tennessee this October with Vice President Mike Pence.
Just $1,500 associated with the Hodges’s $688,800 decided to go to Democrats: there is also $1,000 to David Scott of Georgia, a part regarding the House Financial solutions Committee whom frequently votes in a fashion that is pro-business and $500 to Tulsi Gabbard, that is presently operating for president.
Within half a year of making dozens of contributions, Hodges told their peers regarding the webinar that the White home ended up being up to speed with getting rid of the payment conditions. And per month later on, in October of the 12 months, five people in Congress who took cash from Hodges and their wife questioned Kraninger when you look at the House Financial solutions Committee about the re re payment conditions, a fairly obscure type of questioning for the congressional hearing.
Representatives Blaine Luetkemeyer (R-MO), David Kustoff (R-TN), John Rose (R-TN), Frank Lucas (R-OK), and Andy Barr (R-KY) all urged Kraninger to “address inconsistencies” and “compliance burdens” in the re payment provision. All told, the five Republican representatives received $51,200 straight from Mike and Tina Hodges since 2017.
Unexpectedly, in a hearing ahead of the Senate Banking Committee later on in October, Kraninger stated that she’d react to Hodges’s petition to reconsider the payment conditions. “We have duty to answer that petition within an of it being sent to us, ” kraninger told lawmakers year.
The principles need only that Kraninger show up with some procedure to take care of the petition, states Linda Jun of People in the us for Financial Reform. “I have actuallyn’t seen she says that they have to say yes or no, otherwise the industry could just ask agencies to do things all the time.
However, Kraninger’s remarks were viewed as a reversal that is potential. Simply seven months previously installment loans for bad credit, CFPB had been insisting on no noticeable modifications towards the re payment conditions. Now its director is vowing to complete one thing regarding them. The thing that is only changed within the interim was Mike Hodges firing a cash cannon at Republicans.
“Technically, she could do the thing that is right say, ‘We have actually with all this industry enough, ’” says Derek Martin of Allied Progress. “She has an option, cave in to your political might associated with the president, or state, ‘We’re not planning to repeat this, we’ll protect customers. ’”
Lobbying and culture that is pay-to-play Washington can be brazen, but seldom this bald-faced. You understand it is taking place, you don’t normally have the tape that is audio. Hodges “said aloud what we suspected all along, ” claims Jeremy Funk. “The more he can bundle up from the industry, the greater amount of impact he’s likely to get. And I Really Believe him. We positively think him. ”
David Dayen could be the editor that is executive of United states Prospect. Their work has starred in The Intercept, This new Republic, HuffPost, The Washington Post, the Los Angeles Circumstances, and much more.