Capital Corner: Mid-year musings

Where do things stand in Washington in June of an election year? Good question. Capitol Hill is treading legislative water in preparation for fall campaigning, which means neither party wants to pass bills that could help the other party.

But regulators still have their pens out and are working to finish old business and start a new to-do list.

DCUC is on patrol, and flags several issues:

CFPB became a flashpoint (as usual) during the markup of a House spending bill in early June, giving the GOP a talking point in their ongoing battle against the consumer regulator. Following a recent Supreme Court ruling upholding the CFPB’s funding structure, language that subjects the CFPB to the congressional appropriations process and creates a 5-member CFPB board was approved in Committee and is waiting for action in the full House. It will not pass the Senate.

​My two cents: This episode shows just how much of a partisan flashpoint CFPB is, and probably always will be. It is amusing to see members of Congress who always insist on transparency and accountability in every corner of the federal government suddenly become advocates for a bureaucratic black box when it comes to CFPB.


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