Who will protect consumers from the CFPB

From: The Hill

By Thomas Bezas

It is the most powerful agency you have never heard of, and it should be catapulted to the top of the growing list of federal agencies under scrutiny for abusing their authority. The behavior of the Consumer Financial Protection Bureau (CFPB) is not a rehash of the NSA or IRS scandals; it is bigger and it is time people took notice.

CFPB Changes Online Description of Payday Loans in Response to DQA Petition

The CFPB made changes to an agency white paper on payday loans and deposit advance products in response to a Request for Correction (RFC) filed under the Data Quality Act (DQA) by the Community Financial Services Association (CFSA). CFPB’s response corrected the agency’s use of the term “wire transfer” while rejecting other  issues raised in the petition. The CFPB’s DQA response stated,

The Consumer Financial Protection Bureau: A Toxic Workplace Begets Toxic Policies For Consumers


By Adam Smith and Todd Zywicki

recent report conducted through internal investigation at the Consumer Financial Protection Bureau (CFPB) found multiple instances of employee discrimination and harassment. Investigator Misty Raucci claimed, “I found that the general environment in Consumer Response is one of exclusion, retaliation, discrimination, nepotism, demoralization, devaluation, and other offensive working conditions which constitute a toxic workplace for many of its employees.”