Rep. Mick Mulvaney (R-S.C.) told CU Times the CFPB serves as a great example of the way bureaucracy functions when it has no accountability to anyone.
Mulvaney, a member of the House Financial Services Committee, said the CFPB gets its funding through the Federal Reserve, not directly through congressional appropriations, which makes it harder for Congress to exercise oversight.
"It makes it difficult to get a phone call returned. It makes it difficult to schedule a hearing. It makes it difficult to get answers to simple questions: When are you coming back to see us again? We can't get an answer to that. It has been a truly adversarial relationship," he said after speaking at NAFCU's congressional caucus on Wednesday.
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