Need a $500 Loan to Buy a Fridge? Obama’s New Rules Would Require More Paperwork than a Mortgage
The National Review discusses our court case in State National Bank of Big Spring v. Lew:
Keep in mind that the same agency Cordray runs answers to no one — not Congress, not the American people. So do we really need a lecture from Cordray about accountability and oversight? The Competitive Enterprise Institute, a free-market, libertarian think tank, has joined with the 60 Plus Association and State National Bank of Big Spring, Texas, in filing a lawsuit challenging the constitutionality of the CFPB and several other provisions of the Dodd-Frank bill.
“The Consumer Financial Protection Bureau’s lack of checks and balances violates the Constitution’s separation of powers,” CEI senior attorney Hans Bader has said. “Its director is like a czar. He is not accountable to anyone, and can’t be fired even if voters elect a president with different ideas about how to protect consumers.”