Washington’s Consumer Financial Protection Bureau

Read more on this subject: United States
Opinion Column by Stephen Lendman
Washington's Consumer Financial Protection Bureau

by Stephen Lendman (stephenlendman.org – Home – Stephen Lendman)

Created in the wake of the 2008-09 financial crisis, the CFPB has been more bark than bite.

In September 2010, Obama appointed Elizabeth Warren (current US senator) as Assistant to the President and Special Advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau (CFPB) to set up the new agency.

In July 2011, when it began operating, Warren was passed over for Richard Cordray as its first director, formerly Ohio's attorney general – an establishment figure like Warren, neither a reformer or people's advocate, Leandra English his deputy.

On November 24, Cordray stepped down, naming English his successor. Trump named hardline budget director Mick Mulvaney as acting CFPB director until a permanent appointment is made and confirmed – a legal clash underway over who's rightfully in charge of the agen
Read More or Make a Comment

Bookmark the permalink.

Leave a Reply