FREE MARKET LENDING PAC (FEC ID C00924613)

Independent Expenditure-Only Committee
Defending sane CFPB oversight and free-market lendingMAILING HISTORY
[All mail pieces will appear below within 24 hours of in-home date]

• PA-08 REJECT PAIGE COGNETTI (50,000 pieces) — In-home
• NC-09 REJECT RICHARD OJEDA (50,000 pieces) — In-home
• CA-13 REJECT ADAM GRAY (50,000 pieces_ -- In-home
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My career in financial services started before the CFPB existed.Back then, we had 4 different federal regulators and 50 different state regulators — each with their own rules, their own exams, their own interpretations.
Compliance was a nightmare. One state wanted one thing, another wanted the opposite.
Lenders were drowning in red tape.The promise of the CFPB was simple: one federal regulator. One set of rules.
A single playbook instead of 50.We loved the idea.
A strong, consistent CFPB meant we could focus on serving customers — not fighting 50 different battles.But something went wrong.Activists took over. Sure, they aren't there now - let's keep it that way.Instead of protecting consumers, they started trophy hunting.
Rate caps. Fee caps. “Junk fee” theater.
Every new rule wasn't about safety — it was about ideology.And here's the truth they don't want you to hear:
Rate caps don't work. Fee caps don't work.When you cap what lenders can charge, we don't magically become more generous.
We abandon the segment entirely.I wrote this on Quora years ago — and it's more true today than ever:Quora Post> "Caps sound good on paper. But in reality, they drive responsible lenders out — leaving consumers with pawn shops, payday loans at 400%, or illegal street lenders.
> The marketplace should sort this out. Consumers aren't stupid. Give them choices, transparency, and competition — not government price controls."That's why I started Free Market Lending PAC.Not because I love politics.
Because someone has to stop the activists before they kill community lending for good.With great power comes great responsibility.The CFPB has enormous power — and right now, it's in the wrong hands.Richard Ojeda (NC) and Paige Cognetti (NE PA) aren't lenders.
They've never originated a loan. Never serviced a mortgage. Never helped a veteran with 580 FICO buy a car.They're professional activists who see the CFPB as their trophy.If they win, your members lose.
Your rural branches close.
Your members pay 36% to fintech apps