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.
I enthusiastically agreed to serve as an Assistant to the President and Special Advisor to the Secretary of the Treasury on the CFPB. The president and I are committed to the same vision -- leveling the playing field again.
What could Obama possibly do that would mobilize his political base and put his opponents on the defensive? Appoint Elizabeth Warren to start running the Consumer Financial Protection Bureau immediately.