If any bank represents the need to have a regulator in place that protects people on consumer financial issues, it's Bank of America. America's bank has become a symbol for all that is wrong with the financial sector.
The Consumer Financial Protection Bureau was created to protect consumers. But Republicans are planning to filibuster the confirmation of Richard Cordray as the director of the CFPB, effectively neutralizing the bureau's power to protect consumers.
The American people have gone too long without someone in the federal government looking out for them instead of the big banks. And House Republicans do not actually have the power to block a recess appointment indefinitely.
Recently, the Consumer Financial Protection Bureau (CFPB) released Version 1.0 of its Supervision and Examination Manual. The Manual represents perhaps the single most important document that will be issued by the new CFPB.
Republicans in Congress have looked for any excuse to avoid admitting that they are seeking to weaken new consumer protections -- here are the facts behind their attacks on this important new watchdog for consumers.
African Americans have long been targets of financial predators. The foreclosure crisis is still alive and well in communities of color, who are now on the wrong side of the largest wealth gap ever recorded.
Last week's hearing on the nomination of Richard Cordray to lead the Consumer Financial Protection Bureau featured prepared speeches that were utterly without sound and fury but still managed to do a huge disservice to American consumers.
While dressed up in fine rhetoric about "accountability" and "transparency," what Shelby and some of his colleagues are up to is a blatant attempt to thwart effective regulation of the financial industry.
For the Consumer Financial Protection Bureau to be most effective and most insulated from politically-motivated criticism of its polices, it needs to be an agency that has a leadership structure with divergent views -- politically and otherwise.
Since the Republican Party now worships at the altar of "Saint Ronald of Reagan," it's always fun to point out the hard, cold fact that Reagan would simply not be acceptable to the Republican Party as it stands today.
I tend to be a "glass half full" optimist, so I'm pretty happy about the launch of the Consumer Financial Protection Bureau. The "half empty" part that tempers my celebration is the fact that the president delayed his nomination and passed over Elizabeth Warren.