Federal Judges Demand CFPB Structure Shake-Up

The Heartland Institute discusses the Consumer Financial Protection Bureau with Iain Murray. 

Iain Murray, vice president of strategy for the Competitive Enterprise Institute, says holding government agencies accountable for their actions is an all-American value.

“Accountability and separation of powers are two basic principles of the American republic,” Murray said. “One major component of this is oversight by the elected branches: The president is accountable for the actions of executive agencies, and Congress can examine their activities and, if necessary, restrict their budget.”

Murray says Congress should assert its constitutional authority and hold the executive branch accountable.

“Congress’ lack of control over the CFPB’s budget still raises serious constitutional questions,” Murray said. “Congress should also reexamine the wisdom of giving CFPB power over such an extremely wide range of consumer and financial issues.”

Read the full article at The Heartland Institute.