On the recordDecember 13, 2022
Why wouldn't the next Director, with a politically-different persuasion, not abuse his or her powers with the precedent you have set?
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congress.govWhy wouldn't the next Director, with a politically-different persuasion, not abuse his or her powers with the precedent you have set?
Concern over potential abuse of power by future CFPB directors.
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This is a matter of real substance for the independence of the Fed and the rulemaking at the Federal Reserve.
We need to get to the bottom of whether or not this is a supervisory problem, a regulatory problem, a bank mismanagement problem, perhaps all three.