Commission Structure for CFPB Seems Even Less Likely as Some Republicans Retreat From Calls for It–Though Subjecting CFPB to the Appropriations Process Still a Risk

by Jeff Sovern

Kate Berry has a report at the American Banker, A CFPB commission will never fly, chock full of interesting quotes.  The gist of it is that the Senate Democrats who voted for the bank bill oppose changes in the CFPB and so say they will not support a revised bill if the House were to insist on converting the CFPB to a commission. Meanwhile, some Republicans who formerly supported a commission have cooled to the idea now that a President Trump will get to nominate the next director.  The industry seemingly is steadfast in its support for a commission, though. But efforts to weaken the Bureau by subjecting it to the congressional appropriations process are still alive; that goal could be accomplished by adding a provision to the pending appropriations bill. 

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