Attacks on CFPB will fall short
November 8, 2010 | Elizabeth Warren, federal legislation | Comments (0)The Philly Inquirer seems to hope so. From the story:
But de-funding the new agency, or going after Warren, may be easier said than done, says Travis Plunkett of the Consumer Federation of America, who says the agency was created because “banking regulators utterly failed to protect consumers from abusive financial practices.”
Plunkett says Dodd-Frank specifically protects the new bureau’s budget from congressional interference, to insulate it from political winds. And he says both Dodd-Frank and the new bureau are popular among voters.
Plunkett said that he expected tough oversight from key House committees as the bureau launched but that he expected efforts to scuttle it to fail.
“It’s one thing to say we’ve got this vast new law, and we’re going to carefully watch its implementation. It’s another thing to say we didn’t want this new agency, and we’re going to do everything we can to handcuff it. That will be a mistake.”
Comments»
No comments yet.