How Consumer Financial Protections Could Be Rolled Back
Consumer Reports discusses removing the director of the Consumer Financial Protection Bureau with John Berlau.
Supporters of the current structure, in which the director can only be dismissed for cause—such as incompetence or financial malfeasance—say it allows the director to be politically independent. While the director must provide regular reports to Congress, opponents say current rules leave the director too much unchecked power.
“Anything would be better than the lack of accountability that we have now,” said John Berlau, senior fellow of the Competitive Enterprise Institute, a Washington-based libertarian think tank.
Read the full article at Consumer Reports.