In the midst of the administration’s efforts to drastically reduce the nation’s military personnel and hike pay for government employees comes this gem: the Consumer Financial Protection Bureau, the new director of which was unconstitutionally appointed by President Obama on Wednesday, is prepared to pay a salary of more than …
Last fall Sen. Richard Shelby (R-AL) visited Heritage to talk about the Consumer Financial Protection Bureau and the “unaccountable” nominee to head the agency. At the time, there was speculation President Obama would attempt to bypass the U.S. Senate to install Richard Cordray as CFPB director. That’s exactly what happened …
In a revelation that is quite shocking to anyone who knows anything about the 100-plus years of precedent on the recess appointment power or the separation of powers, the White House today announced that the President planned on making a purported recess appointment of Richard Cordray to the new Consumer …
The Senate is slated to vote this week on the nomination of Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB). If confirmed, the former Ohio attorney general would become the envy of regulatory zealots far and wide—wielding unparalleled powers with virtually no accountability. President Obama, of course, …
A House subcommittee on Wednesday approved legislation to modify the new Consumer Financial Protection Bureau (CFPB). Spawned by the vast Dodd–Frank financial regulation statute, the CFPB (as originally structured) enjoys sweeping powers over all manner of consumer credit—without adequate accountability. Yesterday’s action is a welcome start to taming the CFPB, …
Last week President Barack Obama’s most recently minted czar, Special Advisor to the President for the Consumer Financial Protection Bureau Elizabeth Warren, spoke to 400 bankers at the swanky Mandarin Oriental Hotel in Washington, DC. Her message, according to The Washington Post: “Behave, play nice, and we’ll get along just …
