“Created under the sweeping Dodd-Frank Act of 2010, the agency sets regulatory guidance for an array of financial products.  The bureau is funded through a direct percentage of Federal Reserve income, not by Congress – and that means there’s no congressional oversight.  A recent report found that the CFPB has accomplished the monitoring of more than 85 percent of all credit card records from U.S. consumers. The agency’s goal is to reach 95 percent of the domestic credit card marketplace.  The bureau presided over the U.S. Department of Justice’s Operation Choke Point, a campaign to choke off the credit lines of targeted businesses.”

http://watchdog.org/227457/federal-discrimination-cfpb/

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