Needless to say, by this time around Hodges had used a lobbyist that is full-time work with the guideline. 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 buck rule, ” also referred to as the lending rule that is payday. He received $350,000 from 2017 to 2019 for their efforts. In which he had conferences during the White House, where Mulvaney works, at the least 14 times for the reason that duration, in accordance with White home visitor logs. He showed up on Mulvaney’s calendars in one single duration in 2017 “more usually than anybody who just isn’t a present federal federal government worker. ”
Hodges didn’t stop with lobbyists. Between February 2019 and after this, he and their spouse Tina have actually added $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 for the Hodges’s $688,800 decided to go to Democrats: there clearly was additionally $1,000 to David Scott of Georgia, a part of this House Financial solutions Committee whom usually votes in a fashion that is pro-business and $500 to Tulsi Gabbard, who’s presently operating for president.
Within half a year of making dozens of contributions, Hodges told their colleagues from the webinar that the White home ended up being up to speed with eliminating the re re payment conditions. And 30 days later on, in October for this 12 months, five people in Congress whom took cash from Hodges and their wife questioned Kraninger within the House Financial solutions Committee in regards to the re re payment conditions, a fairly obscure type of questioning for the hearing that is congressional.
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 supply. All told, the five representatives that are republican $51,200 straight from Mike and Tina Hodges since 2017.
Unexpectedly, in a hearing prior to the Senate Banking Committee later on in Kraninger said that she would respond to Hodges’s petition to reconsider the payment provisions october. “We have obligation to answer that petition in just an of it being sent to us, ” kraninger told lawmakers year.
The guidelines need just that Kraninger show up with some procedure to take care of the petition, claims 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 possible reversal installment loans. Simply seven months previously, CFPB ended up being insisting on no modifications towards the re re payment conditions. Now its manager is vowing doing one thing regarding them. The only thing that changed into the interim ended up being Mike Hodges firing a cash cannon at Republicans.
“Technically, she could perform some 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 will that is political of president, or state, ‘We’re not likely to repeat this, we’ll protect consumers. ’”
Lobbying and pay-to-play tradition in Washington is usually brazen, but hardly ever this bald-faced. You understand it is taking place, you don’t often have the sound tape. Hodges “said out loud what we suspected all along, ” claims Jeremy Funk. “The more he is able to bundle up through the industry, the greater influence he’s likely to get. And he is believed by me. We positively believe him. ”
David Dayen
David Dayen may 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.
