The purpose of the Consumer Financial Protection Bureau (CFPB), according to Section 1022(a) of Dodd-Frank, was to "seek to implement and, where applicable, enforce Federal consumer financial law consistently for the purpose of ensuring that all consumers have access to markets for consumer financial products and services and that markets for consumer financial products and services are fair, transparent, and competitive."
Disregarding the fact that the federal government could not possibly do a better job of regulating financial markets than free market dynamics, that was the sole justification offered for the CFPB's inception.
Section 1053(c) of Dodd-Frank authorizes CFPB to issue temporary cease-and-desist orders "Whenever the Bureau determines that the violation specified in the notice of charges served upon a person, ... is likely to cause the person to be insolvent or otherwise prejudice the interests of consumers before the completion of the proceedings ..."
Two days ago, on the 18th of June, CFPB approved new rules for the issuing of temporary cease-and-desist orders – rules that allow the bureau broader, and non-financially connected powers to shut any economic enterprise down. Like gun manufacturers, dealers, and distributors?
I could be wrong, of course, .but this sounds suspiciously like phase two of Operation Chokepoint. But, hey, it wouldn't be the first time in eighty years I've been wrong. (Actually I think it would be the third.)