Ken Cuccinelli Column: Reforming CFPB isn’t enough. Eliminate it. [Proposes Solution that Led to the Great Recession]

by Jeff Sovern

Here, in the American Banker (free content). Cuccinellis is general counsel to the FreedomWorks Regulatory Action Center, and former AG for Virginia. Excerpt:

Rather than tinkering with this regulatory monstrosity, let’s pursue a simpler course: simply eliminate the standalone agency. Most of the regulatory powers that the CFPB now wields were previously under the jurisdiction of other departments and agencies. These entities often specialized in the specific industry being regulated; thus, they were more capable of informed, responsible action than the CFPB.

I guess he forgot that that course led to the Great Recession. 

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