Here are the four principles Elizabeth Warren wants for the Consumer Financial Protection Agency:
- A chief appointed by the president, confirmed by the Senate;
- Independent budget authority, so it won’t be subject to the whims of Congress or an anti-consumer administration;
- Independent rule-making authority, without interference by bank regulators or others who may focus on bank profitability before focusing on consumers;
- And independent enforcement powers, so the agency’s investigators can go after abusive lenders.
Simple, elegant and pro-American. She’s like a professorial, bespectacled superhero.
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