Republicans aim to weaken consumer bureau

WASHINGTON (CNNMoney) — House Republicans on Wednesday detailed a new barrage of legislative measures they plan to pursue that would dilute, delay and curtail powers of the new Consumer Financial Protection Bureau (CFPB).

“This is just the beginning of what will be an ongoing dialogue of how to better reform the CFPB,” said Rep. Shelley Moore Capito, a West Virginia Republican during a hearing on Wednesday. “The current structure simply puts too much power in the hands of one individual and does not allow for sufficient oversight of the regulations put forth by the bureau.”  Read More.

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