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> Was it inevitable that the Equifax situation became partisan? I'm not so sure it's the Equifax situation here, but rather the CFPB that's the target of parti
by djrogers 9y ago
> Was it inevitable that the Equifax situation became partisan?
I'm not so sure it's the Equifax situation here, but rather the CFPB that's the target of partisan lashings. The CFPB has been criticized by both the left and right at various times for overspending, lack of oversight, lack of results, and especially it's fundamental structure - in fact it was even ruled unconstitutional by a DC circuit court. The ruling has since been upheld in an en-banc hearing.
Some of the comments from the judge in the initial ruling are rather surprising:
"The Director enjoys significantly more unilateral power than any single member of any other independent agency. By “unilateral power,” we mean power that is not checked by the President or by other colleagues. Indeed, other than the President, the Director of the CFPB is the single most powerful official in the entire United States Government, at least when measured in terms of unilateral power."
[1]https://www.theatlantic.com/business/archive/2016/10/court-rules-consumer-financial-protection-bureaus-structure-is-unconstitutional/503660/ https://www.theatlantic.com/business/archive/2016/10/court-r...
[2]https://www.cadc.uscourts.gov/internet/opinions.nsf/B7623651686D60D585258226005405AC/$file/15-1177.pdf https://www.cadc.uscourts.gov/internet/opinions.nsf/B7623651...
- creeble 9y agoSomeone needs to pull rank and take over or start an investigation outside of the CFPB. They clearly aren’t doing their job, and now it has become stupid to simply ask them to start doing it.
- tonyztan 9y agoThe CFPB was doing its job until Director Cordray resigned and Trump appointed Mulvaney to be Acting Director. There is even a pending lawsuit about it: https://www.usatoday.com/story/news/politics/2017/11/28/judge-rules-mick-mulvaney-remain-interim-headin-leadership-fight-consumer-financial-protection-burea/902173001/ https://www.usatoday.com/story/news/politics/2017/11/28/judg...