The Consumer Financial Protection Bureau is just beginning its work, but that hasn't stopped its critics from aiming their rhetorical fire at it.

The Nov. 2 oversight hearing by the House Financial Services Committee's subcommittee on consumer credit and financial institutions gave Republicans another forum for criticizing the bureau for overreaching and being insufficiently accountable. The independent agency, which still lacks a permanent director, has been in operation for 100 days.

Subcommittee Chairman Shelley Moore Capito (R-W.Va.) said she fears that the bureau will limit the flexibility of credit unions and community banks to make decisions that benefit their members and customers by imposing a "one size fits all" solution, including requiring the use of "plain vanilla products."

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