NACBA
11-25-2014, 01:13 PM
CFPB is the brainchild of Ms. Warren, a Democratic senator from Massachusetts. It was created by two other Democrats who have since left Congress, Sen. Christopher J. Dodd of Connecticut and Rep. Barney Frank of Massachusetts, as part of a financial reform package bearing their names.
The legislation created the agency to protect consumers from predatory banks and lending institutions blamed for the 2007-2009 financial crisis. The agency opened its doors on July 21, 2011, with Ms. Warren as its leader.
Since then, the agency has been a political football, roundly opposed by Republicans as an excessive regulatory power play and embraced by liberals who see it as a necessary fix to a financial system gone awry.
Read more: http://www.washingtontimes.com/news/2014/nov/21/elizabeth-warrens-cfpb-suffers-low-morale-distrust/#ixzz3K1049Hih
Follow us: @washtimes on Twitter
The legislation created the agency to protect consumers from predatory banks and lending institutions blamed for the 2007-2009 financial crisis. The agency opened its doors on July 21, 2011, with Ms. Warren as its leader.
Since then, the agency has been a political football, roundly opposed by Republicans as an excessive regulatory power play and embraced by liberals who see it as a necessary fix to a financial system gone awry.
Read more: http://www.washingtontimes.com/news/2014/nov/21/elizabeth-warrens-cfpb-suffers-low-morale-distrust/#ixzz3K1049Hih
Follow us: @washtimes on Twitter