Elizabeth Warren in HuffPo: The Banking Industry’s Transparent Attempt to Weaken the CFPB

Here. The entire essay is worth reading, but here's an excerpt to whet your appetite:


The latest industry-sponsored bill would fundamentally change the structure of the CFPB by replacing the agency's single, independent director with a commission of political appointees.

* * * [T]he agency is working, which may be exactly why the big banks and their Republican friends are pushing so hard to tangle it up with a different administrative structure. 

* * *

Let's face it: The quickest way to undermine an agency's effectiveness is to make it a commission — which is why I want a single director and the banking industry doesn't.

* * *

Votes over the CFPB present the same choice today that they always have — a choice between big banks and predatory lenders on one side and families on the other.

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