The shell game continues. The only goal of the phony “defunding” of ACORN and it’s parasitical affiliates was to simply reshuffle its duties and taxpayer money.

From House.gov (Hat Tip; ASPF)

Dems Vote to Give ACORN Regulatory Authority

WASHINGTON – During consideration of H.R. 3126, legislation to establish a Consumer Financial Protection Agency (CFPA), Democrats on the House Financial Services Committee voted to pass an amendment offered by Rep. Maxine Waters (D-CA) that will make ACORN eligible to play a role in setting regulations for financial institutions.

The Waters amendment adds to the CFPA Oversight Board 5 representatives from the fields of “consumer protection, fair lending and civil rights, representatives of depository institutions that primarily serve underserved communities, or representatives of communities that have been significantly impacted by higher-priced mortgages” to join Federal banking regulators in advising the Director on the consistency of proposed regulations, and strategies and policies that the Director should undertake to enforce its rules.

By making representatives of ACORN and other consumer activist organizations eligible to serve on the Oversight Board, the amendment creates a potentially enormous government sanctioned conflict of interest. ACORN-type organizations will have an advisory role on regulating the very financial institutions from which they receive millions of dollars annually in direct corporate contributions and benefit from other financial partnerships and arrangements. These are the same organizations that pressured banks to make subprime mortgage loans and thus bear a major responsibility for the collapse of the housing market.

So, an organization that is under investigation in more than a dozen states for voter fraud, embezzlement and tax evasion is to be given virtual regulatory authority over entities that they receive and disperse funds from. That is, when they are not stealing taxpayer funds meant for legitimate governmental duties.

Life in the age of ObamaCorn.

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