Business as Usual at the CFPB is Not Good For Consumers

The Bureau of Consumer Financial Protection was hoping to conduct business as usual under the new administration. Instead, it’s under heavy fire by a number of legislators reconsidering its structure, funding, and overall existence. This intense scrutiny of the CFPB, following the few short years it has been around, is a testament to the Bureau’s desire to conduct its activities outside of public view, regulate anyone anywhere, and avoid questions about its legal authority. Recent legislative activity could change that, and provide more certainty to consumers and businesses within (and outside of) the Bureau’s jurisdiction. Hester Peirce and I discuss this in our latest op-ed, published at RealClear Markets, where we offer our take on why business as usual at the CFPB isn’t as benign as it sounds.