Richard Cordray

The future isn't bright for highly successful consumer watchdog

The future isn't bright for highly successful consumer watchdog

Democratic lawmakers pleaded with their Republican counterparts last week not to mess with financial reform in general or the Consumer Financial Protection Bureau in particular. But that looks like wishful thinking.

A stopgap government funding bill passed in September will expire Dec. 9. It’s widely expected that conservative members of Congress will include language in follow-up funding legislation that would change how the bureau operates and the scope of its authority over financial institutions.

“Congress must not include in end-of-year funding legislation any riders designed to repeal, undermine or delay any provisions of Wall Street reform, including those...

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