Perdue sponsors bill to subject CFPB to congressional appropriations process

This story appeared in Bank Digest.                                   

Senator David Perdue (R-Ga) has led 17 other Republican senators in sponsoring the CFPB Accountability Act of 2019, which would subject the Consumer Financial Protection Bureau to the annual congressional appropriations process to provide greater oversight of the Bureau. According to Perdue, the Dodd-Frank Act "gave the CFPB unprecedented power with no Congressional oversight whatsoever." He added, "The American people deserve a closer look at the CFPB to understand how its actions will impact consumers."