Senate Republicans have preemptively filibustered the appointment of a founding director for the Consumer Financial Protection Bureau. Without a director, the CFPB will not have authority to regulate both bank and nonbank financial operations.
The attempt by the GOP to derail the Consumer Financial Protection Bureau weeks before it opens its doors is quite remarkable. If the GOP proposals are translated into plain English, you can get the real picture of what they want.
Congress has created the CFPB with so much oversight that calls for "improving" the CFPB are unfair to all of us who use financial services. These bills are transparent attempts to hobble the agency before it has even opened its doors.