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Consensus Abuse of Power

“I’m just learning about the powers that I have as acting director. They would frighten most of you. They would probably worry you to think how little oversight Congress has over me.” –Acting CFPB Director, Mick Mulvaney (Nov 2017)

“There is little that elected representatives can do to oversee the unelected bureaucrats in charge of BCFP’s operations, except to ask questions and hope to get answers. The agency essentially runs on autopilot, unaccountable to any branch of government.” –Sen. Mike Enzi and Sen. David Perdue (July 2018)

“It has no accountability, in other words, unlike other boards and oversight organizations there, there is no appropriations so there is no way for Congress or the voters, you know, through their members of Congress to affect a decision. It’s very unusual, they get their funds directly from the Federal Reserve.” – Sen. Rob Portman (Nov 2017)

“… The CFPB was created as an agency…that had very little accountability, very little transparency, really no oversight to Congress, and it’s an agency that needs to be reformed.” –Sen. John Thune (Nov 2017)

“…it’s the most out-of-control, unaccountable federal agency in Washington, really no oversight at all. They can get into everybody’s business. I don’t think they add much at all to consumer protection. They sure add a lot to increasing costs for midsize banks throughout the country that had nothing to do with the financial collapse.” – Sen. Lindsey Graham (Nov 2017)

“Right now, we have one unelected, unaccountable individual who can basically wake up and decide that any credit card, any mortgage is, quote, unquote, “abusive.” No one person, whether it be Mick Mulvaney or Richard Cordray, should have that much power in a democracy.” – Rep. Jeb Hensarling (Nov 2017)

“The concentration of massive, unchecked power in a single Director marks a dramatic departure from settled historical practice and makes the CFPB unique among independent agencies”- Supreme Court Justice Nominee Brett Kavanaugh (Oct 2016)

“Unless Congress enacts reform, it is only a matter of time before this concentration of power is abused or misused to the detriment of American businesses and consumers.” –Sen. Richard Shelby (July 2011)