There’s a New Consumer Sheriff in California

Issues & Insights quoted CEI’s Iain Murray in their explanation of the California Business and Consumer Services Agency, headed by Rohit Chopra.

Under Chopra, the CFPB “pursued novel efforts to extend its jurisdiction” It has a history of abusive behavior toward private-sector actors going back to its founding. Its rules have “tended to be extremely long and complicated, imposing a huge compliance burden on financial institutions — which pass on those costs on to consumers in the form of higher fees or reduced product choices,” according to the Competitive Enterprise Institute.

Read the full article at Issues & Insights.