The Consumer Financial Protection Bureau (CFPB), created as part of Congress’ response to the financial crisis, is among Washington’s newest federal agencies. And just like the youngest siblings of large families, it has received preferential treatment — treatment some lawmakers say is unconstitutional.
Sen. David Perdue (R-Ga.) is leading an effort to make the CFPB more accountable to Congress, namely through its funding. Right now, the bureau’s funding mechanism operates outside normal congressional channels, freeing it from the scrutiny typically applied to federal agencies during the budget process.
Read the full piece here at The Hill.