Senate Republicans To Block Consumer Financial Protection Chief

Senate Republicans To Block Consumer Financial Protection Chief

Following their colleagues in the House, who earlier this week offered legislation that would weaken the powers of the planned Consumer Financial Protection Bureau, nearly all Republican Senators have sent a letter to President Obama vowing to block the confirmation of any nominee to head the new agency, unless there are “structural changes that will make the Bureau accountable to the American people.” [More]

Consumer And Banking Scholars Speak Out In Favor Of Consumer Financial Protection Agency

Consumer And Banking Scholars Speak Out In Favor Of Consumer Financial Protection Agency

Earlier this week, a group of 70 law professors from universities across the country released a 16-page Statement of Support (pdf) detailing why they’re in favor of the proposed Consumer Financial Protection Act. You can read the statement yourself via the link above, but we’ve summarized them below.