Here. Excerpt:
House Financial Services Committee Chairman Jeb Hensarling, a Dallas Republican, has griped that the agency is “the single most powerful and least accountable federal agency in all of Washington.” He has pushed for the agency to be led by a bipartisan commission, rather than a single director.
Neugebauer has endorsed that proposition, filing a bill that would have a five-member commission lead the agency.
“Over the last several years, the Bureau’s actions and record have proven it can’t function in a sustainable manner,” Neugebauer said when he introduced the bill in 2015. “Perhaps, more than any other Washington agency, the CFPB has demonstrated a lack of transparency and a lack of accountability.”
