For an organization founded on increasing transparency, the Consumer Financial Protection Bureau (CFPB) is shrouded in mystery—from simple definitions to its unchecked (and substantial) budget.
This morning, testifying before the House Financial Services Committee, Director Richard Cordray reminded us how little we know about how the CFPB spends its money. And while the CFPB’s budget secrecy is highly unusual and frustrating, it is also perfectly legal because the bureau was designed to be unaccountable to Congress.
Do you see how the last sentence ended? “because the bureau was designed to be unaccountable to Congress” What in the hell is going on. We need to find out from our Congressman/woman how this was done and how it can be changed. This is asking for people to run off with the money from the Treasury. Get real people.(Read More)