CFPB: New agency would change under House-approved bill
A bill recently passed by the House would change the structure of the Consumer Financial Protection Bureau, which…
A bill recently passed by the House would change the structure of the Consumer Financial Protection Bureau, which was created by the Dodd-Frank Act and opened its doors July 21. Approved by a 241-173 vote, HR 1315 would replace the director of the agency with a commission made up of five people. It also would make it easier for other federal regulators to override the CFPB’s regulations. The bill has been sent to the Senate.
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