Jun 18, 2013 ... The CFPB is able to spend this money with no oversight from Congress, the  President or the Federal Reserve from which it obtains its funding. “In the end,  this single director can disregard advice and manage as he wishes. He has little  accountability to the Administration, and even less to Congress; his ...
Jun 30, 2015 ... The answer has to do with the combination of the uniquely unaccountable nature  of the Consumer Protection Bureau and its vast, vaguely defined powers. In short,  lacking most of the standard tools of congressional oversight, such as budgetary  appropriations and the power to confirm most senior officials, ...
On July 21, 2011 Senator Richard Shelby wrote an op‑ed for the Wall Street  Journal affirming his continued opposition to a centralized structure, noting that  both the Securities Exchange Commission and Federal Deposit Insurance  Corporation had executive boards and that the CFPB should be no different. He  noted ...
Jun 8, 2017 ... House Republicans this week threatened Richard Cordray, the embattled  director of the Consumer Financial Protection Bureau, with contempt of Congress , saying his agency has not complied with a demand to provide documents  related to Wells Fargo & Co.'s unauthorized accounts scandal. In a staff ...
Oct 11, 2016 ... A federal court has ruled the agency's structure is unconstitutional. ... The Bureau  receives its money not through congressional appropriation but from the Fed.  And in its inception, the agency was ... And the Financial Stability Oversight  Council, an arm of the Treasury, has the ability to veto CFPB actions.
The Consumer Financial Protection Bureau has "no congressional oversight."