As most of you know, conservatives and the industry regularly complain about what they call the Bureau’s lack of accountability. Their previous efforts to strip away the CFPB’s independence resulted in the Seila Law decision, in which the Supreme Court ruled that the president had to be able to fire the CFPB director without cause, thus reducing the Bureau’s independence. But they don’t seem happy with the results. Witness Senator Scott’s remarks at the Senate Banking Committee oversight hearing on the CFPB earlier this week:
The CFPB is supposed to be an independent agency, but under [Director Chopra’s] leadership, it seems the Bureau works hand in hand with the White House and appears more interested in scoring headlines for the Biden administration than doing its job.
It’s almost as if the Bureau can’t satisfy the conservatives no matter what it does.
