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r3020
Senior Advisor

Re: Backfilled swamp

The swamp runs straight through the Indian village much deeper than anyone could ever imagine. Wonder how many of them went to private schools.

 

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A total of 198 CFPB employees also earn more than their ultimate boss, Federal Reserve Chairwoman Janet Yellin, who is paid $201,700.

Overall, 449 CFPB employees get at least $100,000 per year and 228 CFPB are paid more than $200,000, according to publicly available 2016 data.

These findings are part of a Daily Caller News Foundation Investigative Group salary analysis for the consumer agency that was founded by Sen. Elizabeth Warren of Massachusetts and then-President Barack Obama in 2011.  The agency was created under the Dodd-Frank Act to serve as a consumer agency protecting the poor against financial fraud.

Warren deliberately placed the agency inside the Federal Reserve Board. As a result, the salaries there do not have to conform to the pay scale set for federal workers at all other department and agencies.

CFPB spokesman Samuel Gilford justified the high salaries by citing Dodd-Frank’s section 1013, saying “compensation at the CFPB is set pursuant to the federal law that established the agency.”

“It’s ironic that the agency that is supposed to be looking out for the ‘little guy’ is actually padding the pockets of their own employees with exorbitant salaries,” David Williams, president of the Taxpayer Protection Alliance, told TheDCNF.

The top salary at CFPB is reserved for Gail Hillebrand, the associate director for consumer education. She received $259,500 in 2016.