The Carroll Standard

$447 Million Consumer Alert: The CFP pays 60% of its 958 employees more than $100K

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RANDY NEUGEBAUER | WSJ --Should an unelected Washington bureaucrat be given tremendous power to lead a new federal agency, set its budget and spend more than $550 million with no oversight or disapproval?

The Dodd-Frank Act signed into law by President Obama two years ago established the Consumer Financial Protection Bureau, whose director has precisely those vast powers. The bureau to date has avoided giving direct answers to congressional inquiries about how it is spending money.

The Consumer Financial Protection Bureau—the brainchild of Elizabeth Warren, a law professor who is now a Senate candidate in Massachusetts—was created as an independent agency to regulate the ... The Rest of the Story...