Commentary: CFPB should take lessons from FTC

10/19/2011 | AmericanBanker.com (free registration)

Roland E. Brandel, senior counsel at Morrison & Foerster, argues that having a single director as head of the Consumer Financial Protection Bureau could hinder the agency's ability to function. "That hidden defect is the vesting of the enormous bureau powers in a single person, the director," Brandel writes. "The consequences are not obvious, but enormous in their potential impact on the bureau and its ability to fulfill its consumer protection function." He argues that the CFPB should take a cue from the Federal Trade Commission.

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