Big bureaucracy: The CFPB turns 2
Alex J. Pollock | The American
July 30, 2013

    Download

The Consumer Financial Protection Bureau (CFPB) has now reached its second birthday. At two years old, it has clearly become just what many of us expected: an ambitious and ballooning bureaucracy, able to operate outside the normal checks and balances of our democratic government.

The opponents and proponents of the CFPB entirely agree on one thing: it was explicitly designed by its creators to evade the normal constraints of the American constitutional structure. Two years have taught us that the design has been remarkably successful in doing so.

Both sides of the debate agree on this fact. They of course do not agree on whether this is good or bad.

Read the full text of the article on The American.

    Download
Also Visit
AEIdeas Blog The American Magazine
About the Author

 

Alex J.
Pollock
  • Alex Pollock joined AEI in 2004 after thirty-five years in banking. He was president and chief executive officer of the Federal Home Loan Bank of Chicago from 1991 to 2004. He is the author of numerous articles on financial systems and the organizer of the “Deflating Bubble” series of AEI conferences. In 2007, he developed a one-page mortgage form to help borrowers understand their mortgage obligations. At AEI, he focuses on financial policy issues, including housing finance, government-sponsored enterprises, retirement finance, corporate governance, accounting standards, and the banking system. He is the lead director of CME Group, a director of Great Lakes Higher Education Corporation and the International Union for Housing Finance, and chairman of the board of the Great Books Foundation.

    CLICK HERE TO DOWNLOAD ALEX POLLOCK'S ONE-PAGE MORTGAGE FORM



    CLICK HERE TO LEARN MORE ABOUT ALEX POLLOCK'S WORK ON THE GOVERNMENT MORTGAGE COMPLEX
  • Phone: 2028627190
    Email: apollock@aei.org

  • Assistant Info

    Name: Emily Rapp
    Phone: (202) 419-5212
    Email: emily.rapp@aei.org
Show More | See Full Profile

What's new on AEI

image The Pentagon’s illusion of choice: Hagel’s 2 options are really 1
image Wild about Larry
image Primary care as affordable luxury
image Solving the chicken-or-egg job problem
close

Join the AEI Media List

AEI's press office frequently sends press advisories highlighting the availability of scholars to discuss particular news topics, as well as recent AEI products (such as studies, articles, and testimonies). Please enter your contact information below to be added to our media list.
JOIN MEDIA LIST
AEI on Facebook
Events Calendar
  • 29
    MON
  • 30
    TUE
  • 31
    WED
  • 01
    THU
  • 02
    FRI
Monday, July 29, 2013 | 10:30 a.m. – 11:30 a.m.
Squaring the circle: General Raymond T. Odierno on American military strategy in a time of declining resources

AEI’s Marilyn Ware Center for Security Studies will host General Raymond Odierno, chief of staff of the US Army, for the second installment of a series of four events with each member of the Joint Chiefs.

Tuesday, July 30, 2013 | 12:00 p.m. – 1:15 p.m.
The Trans-Pacific Partnership and 21st Century Trade Agreements

Please join AEI for a briefing on the TPP and the current trade agenda from 12:00 – 1:15 on Tuesday, July 30th in 106 Dirksen Senate Office Building.

Thursday, August 01, 2013 | 8:10 a.m. – 1:30 p.m.
International conference on collateral risk: Moderating housing cycles and their systemic impact

Experts from the US, Europe, Canada, and Asia will address efforts to moderate housing cycles using countercyclical lending policies.

Event Registration is Closed
No events scheduled this day.
No events scheduled this day.
No events scheduled today.
No events scheduled this day.
No events scheduled this day.