CFPB Articles

The Rogue Regulator

The CFPB's unfair, deceptive, and abusive activities.
Feb 15, 2016

The 2010 Dodd-Frank Act established the Consumer Financial Protection Bureau and authorized it to sue companies that commit “unfair, deceptive, or abusive acts or practices." Two staff reports and internal CFPB documents just released by congressional Republicans have exposed the new agency's attempt to circumvent the very law that created it through activities that epitomize these three types of violations.

A last-minute amendment to Dodd-Frank explicitly barred the CFPB from regulating or suing car dealers, who derive much of their revenue from lending. But Elizabeth Warren—whose advocacy for the consumer agency led to her becoming its first leader and then a United States senator—has never accepted this

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