New Book Describes the Creation of the CFPB

by Jeff Sovern

Here's the blurb I provided:

"Powerful interest groups seldom lose major battles in Congress, but that is exactly what happened when Congress created the Consumer Financial Protection Bureau in 2010. Larry Kirsch and Robert N. Mayer have produced, in Financial Justice: The People's Campaign to Stop Lender Abuse, an eminently readable and yet important account of the fight to establish the CFPB. For those who care about consumer protection, want to learn how laws get passed and new agencies created, or just enjoy a good real-life David-and-Goliath struggle, this book is a must-read."

Back in college I read Eric Redman's book, The Dance of Legislation, which described how Congress enacted a particular law and provided a sort of case study on the legislative process.  This book provides a similar case study–but it's about the Dodd-Frank Act and the CFPB, something likely to be of interest to readers of this blog.  I think this book will be of use for years to come to people interested in the enactment of consumer protection legislation. The book also contains a foreward by former House Financial Services Chair Barney Frank and an afterword by Hofstra professor Norman I. Silber based on his correspondence with Senator Elizabeth Warren  (Disclosure: the book mentions the effort by Norm Silber and me that resulted in numerous law professors joining a letter supporting passage of the Dodd-Frank Act).

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