Partisan Squabbling on Capitol Hill Continues Over Degree of Authority, Efficiency of the CFPB
November 3, 2011
Raj Date, special adviser to the Treasury and the acting head of the Consumer Financial Protection Bureau, ran headlong into considerable resistance from Republicans on a House subcommittee this week over the scope of the bureaus authority and its effectiveness, especially in relation to the mortgage lending activities of community banks. Date was the sole witness to appear before the House Financial Services Subcommittee on Financial Institutions and Consumer Credit this week as it reviewed the first 100 days of the CFPB. Rep. Donald Manzullo, R-IL, put it most forcefully for the GOP opposition when he...