12/8/2011

Sen. Richard Shelby, R-Ala., writes that the Senate will confirm a director of the Consumer Financial Protection Bureau when the agency is made "accountable to the American people." The CFPB is not accountable to Congress and its authority is vested in the single director. "During his five-year term, the director can determine not only how the bureau spends its more than a half-billion-dollar budget, but also how it regulates much of the American economy," Mr. Shelby writes.

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