The claim that the Consumer Financial Protection Bureau (CFPB) was diverting settlement funds to politically connected groups, as Investor’s Business Daily accused in 2015, is a matter of contention and has not been definitively proven. The allegations stemmed from criticisms of how the CFPB used its Civil Penalty Fund, but there is no conclusive evidence showing that the bureau engaged in illegal or unethical activity regarding its disbursement of funds to political organizations. For Bowes to mention the allegations when they are unproven and never even went to court (as far as I am aware) is irresponsible. (I was unable to find a related lawsuit, but inability to find it doesn’t necessarily mean one did not exist. I have no doubt that if it had gone to court, Bowes would mention it here if the allegations were proven by evidence.)

A “radical Acorn-style pressure group”, if you were wondering, refers to organizations which are perceived to be using aggressive or confrontational tactics to advocate for social and political change. Historically, this has meant desegregation, voting rights, affordable housing, workers’ rights, and more. The term ACORN means Association of Community Organizations for Reform Now, which was a grassroots organization beginning in the 1970’s, which disbanded in 2010. ACORN became known for its activism in low-income communities. The “confrontational tactics” they used included legislative action, protests, and public demonstrations.

Full contextual analysis of Section 5.1: Financial Regulatory Agencies here.