USCC in the News

A Limited Victory for Limited Government as CFPB's Structure Ruled Unconstitutional (Reason)

A federal court ruling that says the Consumer Financial Protection Bureau is "structurally unconstitutional" won't stop the powerful federal regulatory agency from carrying out its agenda, but it's a small victory for limited government nonetheless.

Court: Consumer bureau's structure is unconstitutional (The Hill)

“Congress must pass comprehensive Dodd-Frank reform that includes an overhaul of the CFPB, including a change in the leadership structure, bringing the agency under the traditional congressional appropriations process, and subjecting it to the same anti-discrimination standards as other federal agencies and private corporations,” said Brian Wise, president of the U.S. Consumer Coalition, a group opposed to the agency.

Do the CFPB’s Massive Data Collection Efforts Pose a Threat to Americans? (DS News)

The Consumer Financial Protection Bureau (CFPB) has engaged in 12 massive collection efforts of private data from American citizens, including mortgage loan-level data and transaction-level data on consumers’ credit cards and checking accounts.

Newt Gingrich Brings Fireworks and Intrigue to CFPB Hearing (Morning Consult)

“It is dictatorial. It is unaccountable. It is practically unrestrained in expanding on its already expansive mandate from Congress,” Gingrich said. “This is your government as a bully, and it is your government as a blackmailer.”

CFPB's Database Should Be Bipartisan Privacy Concern (Newsmax)

A June poll by Zogby on behalf of the U.S. Consumer Coalition found that only 20 percent of American agree with the CFPB’s collection and review of credit card statements without consumers’ knowledge.  Yet Democrats critical of the NSA have actually stayed silent or even defended the CFPB on this issue.

Former Speaker Newt Gingrich: Congress Must Reclaim Consumer Finance Bureau (RCP)

Government bureaucracies have a way of acquiring more rather than less power and resilience over time as people come to assume — because they exist — that everything they do serves legitimate and important public purposes. We forget, in other words, how we managed to get along without them.

Capitol Hill Conservatives Fight To Rein In ‘Rogue’ CFPB (OAN Network)

While their efforts to repeal Obamacare have failed, Capitol Hill conservatives are still looking to undo President Barack Obama’s liberal legacy by targeting the Consumer Financial Protection Bureau. The CFPB was created by the Dodd-Frank Wall Street reform law and conservatives charge it is a regulator out of control. OAN's Neil McCabe reports.

Poll: More Americans Concerned About Gov’t Mining of Credit Card Data Than NSA (CNS News)

The public opinion survey, conducted in cooperation with the U.S. Consumer Coalition, focused on a little-known federal agency called the Consumer Financial Protection Bureau (CFPB), which collects large amounts of personal financial information.

Brian J. Wise: Five years after Dodd-Frank, time for a course correction at CFPB (The Hill)

When disaster strikes in this country, someone usually grabs the microphone to pronounce that Washington will step in with new programs to ensure “it” will never happen again.  Such was the case five years ago this month with the passage of the Dodd-Frank Act, the voluminous legislation intended to supposedly ensure that there would never be a repeat of the 2008 financial crisis that gripped America.

Former Speaker Newt Gingrich: A Government Snoop That Puts the NSA To Shame (WSJ)

The Consumer Financial Protection Bureau, through its 12 data-mining programs, collects and monitors information for nearly 600 million personal credit-card accounts on a monthly basis. The CFPB is gearing up to monitor 95% of all credit-card transactions by 2016 (more about this below).

Has the CFPB Gone ‘Rogue’? (Reverse Mortgage Daily)

Congressional lawmakers continue to push legislation to bring more accountability to the Consumer Financial Protection Bureau (CFPB), with several bills having already been introduced this year in efforts to achieve this. And now there is yet another proposed bill that seeks to further the cause.