The Hill on How the CFPB Comes Out Under the Budget Deal

by Jeff sovern

Here.  No cut in the budget but audits by the GAO and an outside auditor.  The GAO audit is to look at how much financial institutions spend to comply with government rules affecting financial markets and how those rules affect financial markets among other things.  Here's my favorite quote in the article, from Speaker John Boehner's office:

The agreement subjects the so-called Consumer Financial Protection Bureau (CFPB) created by the job-destroying Dodd-Frank law to yearly audits by both the private sector and the Government Accountability Office.

That "so-called" strikes me as disrespectful.  Just as it would if people called him the so-called Speaker, or referred to the House of Representatives as the so-called elected representatives of the people.  Instead of, you know, of the banks.

Comments

[Barry Cutler]

Jeff, you are so right.