Our fight to reform the CFPB
While the mission of the CFPB is a laudable one, substantive reform is necessary to ensure the principles of consumer choice and freedom are also protected in the course of the agency’s pursuit of consumer protection.
Since the CFPB has shown time and again that they are resistant to the reforms that are needed to make them the accountable and credible agency that American consumers deserve, the US Consumer Coalition launched the “Consumer Protection Initiative.”
The “Consumer Protection Initiative” seeks to advance key reforms, including:
- Replacing the CFPB’s single-Director leadership structure with a bipartisan commission.
- Creating an independent, presidentially appointed, Inspector General solely for the Bureau.
- Subjecting the CFPB to the same Congressional oversight under the annual appropriation process that virtually every other federal agency receives.