My friend Patrick Brenner, president of regional free-market think tank the Southwest Public Policy Institute, recently had a great op-ed at FoxNews.com on data troubles at the Consumer Financial Protection Bureau (CFPB). Not only is such power unneeded to protect consumers, as I explain in the article, it would also be genuinely dangerous for the CFPB to possess. The CFPB, which hasn’t yet resolved the aforementioned data breach, would have access under this rule to even more consumer data. In comments on the CFPB rule, the internet trade association NetChoice makes a good case that the CFPB is exceeding its authority from Congress in the power grab it is proposing. Hopefully, the Supreme Court will subject the CFPB to this structure in its upcoming ruling in CFPB v. CFSA.

Source: Fox News January 29, 2024 22:25 UTC