A U.S. Senator introduced a bill Tuesday that would greatly rein in the power and budget of the CFPB, an agency he says is more interested in protecting itself than protecting consumers. It pairs with a House bill that would bring the same accountability. Here's what's happening in Congress right now.
The bureau that turns its spotlight on the American economy may be getting the spotlight turned on it, as Democrats and Republicans came together Tuesday to open the CFPB to much greater scrutiny. Have a look behind the curtain.
The House Financial Services Committee hearing on the economic consequences of regulatory rulemaking and enforcement got heated because Democrats don't want cost-benefit analysis and Republicans want to merge regulators and bring them under Congressional oversight.
A Congressman is introducing a bill to open the Consumer Financial Protection Bureau up to face the same scrutiny as every single other commission, regulatory body and government body in Washington, D.C.
With the recent turnover in leadership at the Federal Housing Finance Agency, we may be standing at the precipice of great change in the government’s role in supporting the mortgage market through Fannie Mae and Freddie Mac.