The Consumer Financial Protection Bureau under attack. We’re looking at who’s attacking what, and why.
The mortgage meltdown had few happy endings. But to many there seemed to be one silver lining. A new agency created to look out for us. To make sure next time we wouldn’t be thrown under the bus.
But from the start, the Consumer Financial Protection Bureau had fierce pushback. Especially from banks worried about heavy handed regulations.
Now the attacks, and counterattacks, are heating up. In the Senate. In court. From consumer advocates. From defenders of free markets. And each side is digging in.
This hour, On Point: the heated battle over the future of the Consumer Finance Protection Bureau.
– Bob Oakes
Diane Katz, research fellow in regulatory policy at The Heritage Foundation.
From Tom’s Reading List
The Hill “The standoff over the nomination of Richard Cordray to lead the Consumer Financial Protection Bureau (CFPB) reached new heights Thursday, after nearly every Senate Democrat rejected outright GOP demands for changes to the new agency.”
Bloomberg News “Elizabeth Warren called on her Senate colleagues to end their effort to block a vote on President Barack Obama’s nomination of Richard Cordray to head the U.S. Consumer Financial Protection Bureau.”