Most agency heads don’t tell Congress that their agencies are far too powerful.
And in issuing the CFPB’s semi-annual report to Congress, dated Fall 2017 but released Monday, Mulvaney, asks Congress to rein in his agency, which he contends was given far too much power in the Dodd-Frank Act.
“As has been evident since the enactment of the Dodd-Frank Act, the Bureau is far too powerful, and with precious little oversight of its activities,” he said, in the report.
He said that according to Dodd-Frank, the agency director is a “one-man” legislature who serves in three roles: he writes binding rules, serves as an executive and then as an appellate judge “presiding over the Bureau’s in-house court-like adjudications.”
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