Why it Matters

 

The Consumer Financial Protection Bureau (CFPB) is the most unaccountable and out of control agency in the federal government. In its position under the leadership of the Federal Reserve (Fed), it is not accountable to, nor is it subject to regular oversight from Congress.

Set up by Senator Elizabeth Warren, and now run by Director Richard Cordray, the “Bureau” has become the vehicle that the Administration is using to implement progressive ideological policy action.

It is no surprise that scandal has plagued the new agency from before it was formed – internal racial discrimination complaints, fiscal impropriety, privacy violations, and unprecedented rule making threats.