Consumer Bureau at Risk
The Consumer Financial Protection Bureau, (CFPB), which was the brainchild of Senator Elizabeth Warren (MA-D), is in danger of being weakened or abolished under a Trump Administration. Conservatives in Congress have long opposed the agency as having too much independence, and have supported legislation to restructure it by turning it into a five-member commission withoand bringing it into the appropriations process. The Bureau is currently funded through the Federal Reserve. Also controversial is the manner in which CFPB’s current director, Richard Cordray, was confirmed. His 2012 nomination was held up by the Republican leadership until July 2013 after Senate Democrats…
