The Endless (and Ironic) Attacks on the CFPB
policyshop.net — Anyone who has followed the creation and early life of the Consumer Financial Protection Bureau knows that conservatives in Congress have repeatedly tried to kill or weaken this agency using the power of the purse. Most recently, last spring, Republicans tried to cut the CFPB's $550 million budget by about 40 percent. It's safe to say that if the CFPB wasn't funded through the Federal Reserve it'd barely be able to function. And, as it is, all the attacks on the agency slowed its ability to get up and running. Yet harassment of CFPB is ongoing. In August, for example, Judicial Watch alleged that the CFPB was spending too much money on things like sign language interpreters and training classes for its staff. Among the odd complaints of Judicial Watch was that CFPB had spent $4,500 "to enroll six employees in a Banking Law Fundamentals class at George Washington University." As if we don't want regulators of banks to know banking law.