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 payday lending guideline. He received $350,000 from 2017 to 2019 for their efforts. And then he had conferences during the White home, where Mulvaney works, at the very least 14 times for the reason that duration, based on White home visitor logs. He showed up on Mulvaney’s calendars in a single period in 2017 “more usually than anybody who just isn’t a present federal federal federal government worker. ”
Hodges didn’t stop with lobbyists. The republican campaign arm of the House, the Republican National Committee, the Trump Super PAC America First Action, and other conservative political action committees between February 2019 and today, he and his wife Tina have contributed $688,800 to Republican candidates for Congress. Hodges also hosted a fundraiser in Tennessee this with Vice President Mike Pence october.
Only $1,500 for the Hodges’s $688,800 decided to go to Democrats: there clearly was additionally $1,000 to David Scott of Georgia, an associate for the House Financial Services Committee whom frequently votes in a fashion that is pro-business and $500 to Tulsi Gabbard, who’s presently running for president.
Within 6 months of making dozens of contributions, Hodges told their peers in the webinar that the White House was up to speed with getting rid of the re re payment provisions. And 30 days later on, in October of the 12 months, five people of Congress whom took cash from Hodges and their wife questioned Kraninger within the House Financial solutions Committee in regards to the re payment conditions, a fairly obscure type of questioning for a 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 re payment supply. All told, the five representatives that are republican $51,200 straight from Mike and Tina Hodges since 2017.
Instantly, in a hearing prior to the Senate Banking Committee later on in October, Kraninger stated that she’d react to Hodges’s petition to reconsider the repayment conditions. “We have a 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 undertake the petition, claims Linda Jun of Us citizens for Financial Reform. “I american general installment loans haven’t seen that they need to say yes or no, otherwise the industry could simply ask agencies to complete things all of the time, ” she says.
Nonetheless, Kraninger’s responses had been viewed as a reversal that is potential. Simply seven months previously, CFPB had been insisting on no modifications to your re re payment conditions. Now its manager is vowing doing one thing regarding them. The thing that is only changed within 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 planning to try this, we’ll protect customers. ’”
Lobbying and pay-to-play culture in Washington is usually brazen, but seldom this bald-faced. You realize 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 is able to bundle up through the industry, the greater impact he’s planning to get. And he is believed by me. We positively think him. ”
David Dayen could be the executive editor of The United states Prospect. Their work has starred in The Intercept, the brand new Republic, HuffPost, The Washington Post, the l. A. Occasions, and much more.