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Federal Judge Knocks Down “The Resistance” on CFPB Power Grab Updated November 29, 2017 The Consumer Financial Protection Bureau (CFPB) was created by the Obama Administration under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The CFPB was designed to be independent of government: it didn’t depend on Congress for funding—it could extract funds directly from the Federal Reserve. And, though it was part of the Executive, the president had little control over it. And all the power was vested in its director. CFPB’s stated purpose is: “to ensur[e] that all consumers have access to markets for consumer financial products and services and that markets for consumer financial products and services are fair, transparent, and competitive,” Writes Thaya Brook Knight, a finance expert from the Cato Institute, in

United statesChuck schumerWikimedia commonsBrett kavanaughRichard cordray mick mulvaneyHolmanw jenkins jrMary mcleodTimothyj kellyMick mulvaneyTrump administrationFederal reserveAdministration in fight overCato instituteConsumer financial protection bureauSupreme courtObama administration