The Supreme Court has determined in a 5-4 decision that the structure of a controversial agency created in 2008 must be restructured.
Acting Director Mick Mulvaney says that the CFPB is “far too powerful” in the agency’s semi-annual report.
An appeals court recently said that the Consumer Financial Protection Bureau should act with the same degree of independence as other financial regulators.
The CFPB’s Acting Director, Mick Mulvaney, recently told employees he no longer wants to see the agency “push the envelope” as it has in the past.
Senator Ron Johnson (R-WI) has expressed concerns about the appointment of the CFPB Deputy Director to her permanent career position.
A hiring freeze has been announced at CFPB amidst a legal battle that has ensued over who gets to lead the agency.
Legislation has been introduced in Congress to eliminate the Consumer Financial Protection Bureau.