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Home / US / Katie Porter is the other newcomer-house-democrat who causes trouble for Trump

Katie Porter is the other newcomer-house-democrat who causes trouble for Trump

Instead, she ran for Congress in 2018, won a Republican seat and joined the "blue wave" of Democrats who took over the house math under oath.

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Its current goals included key players on Wall Street, including JPMorgan Chase CEO Jamie Dimon, Equifax CEO Mark Begor and today's Wells Fargo CEO Tim Sloan.

"I remember I said Elizabeth Warren – she called me a few weeks after I arrived – and talked to her and said," I do not feel like I've found my voice, " said Porter in an interview with CNN in her Capitol Hill office this week, "and then, a few weeks later, she phoned me after Tim Sloan testified and withdrew, saying," You have your voice found so! & # 39; She was so happy.

A spokeswoman for Warren did not respond to a request for comment.

  A lawmaker asked Carson about foreclosure characteristics, he believed she spoke of Oreos.
It was March when Porter Sloan – who had already been called upon by Warren and others to resign – complained to a House Financial Services Committee on Wells Fargos of numerous scandals over counterfeit accounts, inappropriate mortgage fees, and the charging of car insurance borrowers They did not need them.

When it came to Porter's turn, she first asked why the public should trust Sloan's promise that Wells Fargo would change his ways, then she ducked under the table to draw up a billboard full of text Open, on the stand what the lawyers of Wells Fargo said in court

"Why Mr. Sloan, if you do not mind if I ask you, your attorneys in federal court argue that these precise statements I read are 'paradigmatic examples of unworkable corporate buffers, which no reliable investor can rely on & # 39; she asked.

"I do not know why our lawyers argue that. "Sloan replied.

Porter Carried On.

" It's convenient for your lawyers to blame in court and say that your rebranding campaign can be ignored as hyperbolic marketing, but when you come to Congress "Do you want us to take your word for it," she said, "and I think that's the breakup, so the American public has trouble trusting Wells Fargo."

Two weeks later, Wells Fargo announced That Sloan was out of office.

"This is not a math exercise"

Porter has also targeted senior officials of the Trump administration Kathy Kraninger, the head of the Consumer Financial Bureau, then asked a hypothetical mathematical problem: A single mother takes a two-week There are $ 200 payday loans with a $ 20 origination fee of 10%. What is the APR? One of Porter's aides handed Kraninger a calculator.
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She has not recalculated, though Porter repeated the question and asked her to plan the calculation.

"I understand where you come from." Ultimately, the problem is definitely: If you are actually able to repay this loan and whether or not you will take an additional loan, "Kraninger said.

"However, this is not a mathematical exercise, it is a political conversation," she added. 19659016] This week, Porter said in her office that she hopes the videoclip would make people think about the problem.

"So, what does it mean that calculating the annual rate is so difficult that the vast majority of us can not do that? I suppose it means those revelations that do it for you are quite useful," she said.

In June, Porter Housin g and Urban Development Minister Ben Carson asked why the Federal Housing Administration "is bad at dealing with mortgages." When Carson said that he had not had discussions on this issue, but that he would "look it up," Porter pushed on and asked him to explain the rate of foreclosures among those with mortgages who were supported by his department. She used the term REO – which stands for real estate ownership – to refer to real estate that was in the possession of a lender after an unsuccessful execution – an acronym she did not expect to outwit the head of the agency tasked with overseeing it.

"Do you know what a REO is?" Porter asked Carson.

Carson replied, "An Oreo?"

"No, no Oreo," said Porter. "An R-E-O. REO."

The video of the exchange became viral and Carson tried to laugh it out by sending a box of biscuits to the congressman.

Porter says her goal is not to highlight incompetence, but to make esoteric topics more accessible – as she did in the courses she taught at the University of California, Irvine, on consumer finance law.

"What I did as a professor is no different from what I do in hearings," Porter said this week.

An average voter could not articulate her position on payday loans, she said, "but when you start talking about that hypothesis I had with Kraninger, people started to get involved."

How Warren Believes Them That debates about protecting the ability to earn a living, buying a home, and getting college are really talking about the "heart and soul of America."

Her back and forth with Dimon, she said, should emphasize the problem of salary differences between CEOs: Porter went over the budget of a hypothetical Chase Bank employee, this time with a white board.

asked the bank chief. 19659005] "I do not know, I need to think about it," said Dimon.

Whether the professor who became a member of the congress may or may not change her unique way of interrogating government officials and civil servants A two-chamber law, along with Democratic Sens. Warren, Sherrod Brown of Ohio, and Tom Udall of New Mexico, would strengthen the power of the Consumer Finance Protection Bureau to enable it to oversee student loan service employees Porter has also introduced laws with Harris that strengthen the power of Attorney General to monitor banks

So far none of these bills have received much support from Republicans. But a bill she tabled to increase the civil sanctions set for violations of security law was passed by the committee last week. Two of her other bills – one on mental health and the other on home care for the elderly – are supported from all over.

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Democrats could be vulnerable in their re-election offer. When she won in 2018, it was the first time that her district in Southern California had turned blue since its founding in 1983. This was partly because the two-time Republican Mimi Walters incumbent in a five-winning district in agreement with Trump agreed percentage points.

But last month, Porter became one of the first Democrats to win Republican districts in 2018 to prosecute Trump. The move seemed to bring her support. Their campaign raised more than US $ 1 million in the second quarter, bringing money to many other vulnerable Democrats.

Porter said she is working to be a voice for families who are worried about how they will pay the bills, which she believes was Trump's candidacy.

"The financial instability and sometimes insecurity that families experience deeply motivates how they react politically," Porter said last week.

"I think one thing he (Trump) played was the fear of" Will I make ends meet and is there a job for my children? "These are real concerns and as a mother I have them also. "

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