To credit unions, the CFPB is a busy-body agency that has no business regulating them.

To some Republicans, the agency represents much of what's wrong with Dodd-Frank.

To even more Republicans, the bureau represents all that's wrong with government.

But yet, so far, nobody's been able to rein in an agency that was created as a reaction to the greatest economic crisis the nation has suffered since the Great Depression.

This year, with Republicans controlling both houses of Congress and the White House, CFPB opponents are expressing confidence that one way or another, the bureau will be wrestled to the ground and neutered.

And they're fighting on a myriad of fronts and with a variety of weapons.

House Financial Services Chairman Jeb Hensarling has even suggested that changes to the agency could be made through the budget reconciliation process — a shortcut to the legislative process that could ease passage in the Senate.

Using the regular legislative process, Senate Democrats could force CFPB opponents to get 60 votes for such a plan.

However, using the budget reconciliation process, CFPB opponents could limit debate and enact such changes with a 50-vote majority.

“In many respects, this agency is not just involved in law enforcement, which it should be, but it is actually creating law, and is unaccountable,” Hensarling said in a recent interview with Bloomberg. “That has to change. We are trying to ensure that number one, it is Constitutional, and number two, it protects consumers.”

Democrats have come to the agency's defense.

“Simply put, the CFPB stands up for people who have been ripped off by Wall Street and predatory lenders, and puts money back in their pockets,” House Financial Services ranking Democrat Maxine Waters (D-Calif.) recently said.

Meanwhile, Republicans are floating a variety of changes to an agency they say is out of control:

The Courts

A panel from the U.S. Circuit Court of Appeals for the District of Columbia court has ruled that the structure of the CFPB is unconstitutional. However, the full Circuit Court of Appeals for the district has agreed to hear the case. The court has scheduled oral arguments on the case for May 24, so the agency is free to continue to conduct business in the meantime.

Abolition

Sen. Ted Cruz (R-Texas) and Rep. John Ratcliff (R-Texas) have introduced legislation in their respective chambers to simply abolish the CFPB. The legislation has been sent to committees in each chamber.

Fire Director Richard Cordray

Republicans hate Cordray. Hensarling has accused Democrats of wanting a benevolent dictator running the agency.

Cordray has made it clear he wants to serve out his full term as director; that term expires in July 2018.

Hensarling and Sens. Mike Lee (R-Utah) and Ben Sasse (R-Neb.) have called on Trump to fire Cordray, arguing that until the court case is resolved, the president could do it.

“Given the CFPB's unconstitutional structure, removing Director Cordray would be consistent with President Trump's oath to 'preserve, protect and defend the Constitution of the United States,'” the senators said, in a letter to Vice President Pence.

For his part, Senate Banking Chairman Mike Crapo (R-Idaho) has said that Cordray should quit and allow Trump to appoint his own director.

Starve It

In their annual version of the Financial Services appropriations measure, House members have proposed subjecting the CFPB to the annual appropriations process.

In an effort to ensure the agency's independence, Democrats had decided that the CFPB's funding should come directly from the Federal Reserve. However, Republicans have pointed to the agency's funding mechanism as proof that the CFPB is accountable to no one.

Change the Structure and Duties

Last year, Hensarling introduced the Financial CHOICE Act, which would have made large-scale changes to the CFPB as part of an effort to overhaul Dodd-Frank. It would have converted the agency into a five-member commission, repealed the CFPB's ability to ban bank products it deems abusive and its authority to ban arbitration.

The legislation never went to the House floor, but Hensarling is expected to introduce similar legislation this year.

However, a memo from committee staff outlines a series of changes that Hensarling is contemplating. That includes retaining a single director, but curtailing his duties even more.

Under the new plan, the CFPB would be restructured as a civil enforcement agency like the FTC. However, unlike the FTC, it would be governed by a single director who could be removed by the president at will.

The new Hensarling plan would eliminate the CFPB's power to act based on unfair, deceptive and abusive practices, and it would eliminate databases of consumer complaints.

The agency's consumer education function also would be removed.

Limit Power to Regulate Credit Unions

Barring any other changes, credit unions are arguing that they should be exempt from certain CFPB regulations.

For instance, then-NCUA Chairman Rick Metsger said that the NCUA and not the CFPB should regulate small-dollar lending by credit unions. He said that the NCUA had developed its own payday alternative loan program.

And credit unions argued that they should be exempt from CFPB rules barring mandatory arbitration clauses in financial contracts. Credit union trade groups said that since credit union members technically own the financial institution, they essentially would be suing themselves if they had a complaint and did not agree to arbitration.