In the news

Los Angeles Times
David Lazarus

Ben Carson, second only to Donald Trump in Republican presidential polling, has called the Consumer Financial Protection Bureau the "ultimate example of regulatory overreach."

Candidate Carly Fiorina, former chief executive of Hewlett-Packard, says the watchdog agency's investigative powers worry her "a whole lot more" than the National Security Agency.

And Texas Sen. Ted Cruz, also seeking the Republican nomination, introduced legislation in July that would erase the bureau from existence.

"The agency continues to grow in power and magnitude without any accountability to Congress and the people," he warned. "The only way to stop this runaway agency is by eliminating it altogether."

So what acts of villainy has the Consumer Financial Protection Bureau been up to lately?

Despite the ominous, fearful and largely bogus criticism by its Republican critics, the bureau has been steadily doing what it was created to do: safeguarding consumers from the greedy practices of businesses that think they can act without regard for the law.

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