Former regulator Ronald Rubin has written another in a series of articles - this one published in The National Review - critical (an understatement) of the Consumer Financial Protection Bureau's management. This latest post takes the position that the only way to save the CFPB and the mission it was intended to have is for Director Richard Cordray to resign.

Among his tell-all tidbits, this time he says it is little-known that "the bureau’s most powerful division is External Affairs, the media spin doctors who are rarely so influential outside of political entities." He shares,

I observed this perverse hierarchy while working at the CFPB in 2011 and 2012, but I was still shocked recently when a senior bureau official told me that External Affairs often vetoes rulemaking initiatives because they lack sufficient publicity potential.

You can read Rubin's full opinion here.

You can find Ronald Rubin here.

Some of his other recent tell-all articles include:

Former Regulator Accuses CFPB of Targeting the Biggest Companies and Imposing "The Maximum Fines They Can Afford to Pay”

Former Regulator Points to CFPB Failure behind Wells Fargo Scandal

Former Regulator Offers Extensive and Scathing Details of Life Inside the CFPB


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Tags: CFPB