Stutzman: CFPB "Disgracefully Unaccountable, Even by Washington's Standards"

Statement

U.S. Congressman Marlin Stutzman, a member of the House Committee on Financial Services, issued the following statement today as the committee moves a legislative package forward to bring accountability to the Consumer Financial Protection Bureau (CFPB).

"Virtually unaccountable to Congress, the President and even the courts, the CFPB may as well be the fourth branch of government. While the agency holds vast control over the personal choices of everyday Americans, it is disgracefully unaccountable--even by Washington's standards.

"Consumers must be protected from an agency with so much power over the kinds of checking accounts, credit cards, and mortgages families can and cannot use. Americans deserve choices, competition and transparent markets, not command-and-control bureaucracies. That's exactly why we're working to enact responsible checks and balances that will hold the CFPB accountable and serve consumers best."

Source