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Released: February 21, 2013
Why consumer watchdog agency still has no chief
Source: Herb Weisbaum, NBC News
Senate Republicans have vowed to block President Obama’s nomination of Richard Cordray to become director of the Consumer Financial Protection Bureau unless Congress takes steps that would weaken the agency.
Republicans say they want Congress to change the CFPB’s governance, funding and oversight before they will vote on a director for the agency.
George Washington University law professor Arthur Wilmarth, Jr. wrote an analysis of the proposed changes in a paper titled: “The Financial Services Industry’s Misguided Quest to Undermine the Consumer Financial Protection Bureau.” Here’s how he addressed the GOP’s proposed changes:
Read Full Article: Why consumer watchdog agency still has no chief
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