CFPB to Hold Consumer Advisory Board Meeting

Steven Lofchie Commentary by Steven Lofchie

The Consumer Financial Protection Bureau ("CFPB") will meet on February 25, 2016 to discuss its strategic outlook and "Financial Well-Being."

Commentary

It seems odd for a regulatory agency to speak of its own "financial well-being" as if it were a person. The notion that the CFPB maintains its "financial well-being" without being dependent on funding from Congress is difficult to reconcile given the division of authority under the Constitution. If the CFPB can maintain not only its financial well-being but also its financial independence without any input from Congress, then why can't other Federal Agencies do the same?

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