Rep. Randy Neugebauer (R-Texas) has introduced a bill that would change the structure of the CFPB from a director to a five-person commission.
Under H.R. 1266, the members of the CFPB commission would be appointed by the president and confirmed by the Senate. No more than three of the members would be from the same political party.
During a Senate Banking Committee in February, credit union leaders said the credit union industry would benefit from a five-person commission running the CFPB.
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