The Hill gets a preview:
Elizabeth Warren, the Harvard law professor charged with setting up the CFPB, will tell consumer advocates Tuesday that while the bureau was created when the Dodd-Frank financial reform law was enacted, the fight is not over.
“Families can and should be proud of their new watchdog, but they would be wrong if they take its future security and independence for granted,” she will say in a speech to the Consumers Union, according to her prepared remarks.
Specifically, she will warn against efforts to bring the CFPB’s budget under the jurisdiction of Congressional appropriators. Several Republicans, critical of the bureau, have contended that the office suffers from a lack of Congressional oversight because its budget falls outside the appropriations process. Instead, the CFPB receives its funding as part of the Federal Reserve’s budget.




