The following is an op-ed from Celeste Meiffren, field director for Illinois PIRG.
Since July 21, the new Consumer Financial Protection Bureau,
or CFPB – a centerpiece of the 2010 Wall Street Reform and Consumer
Protection Act -- has been up and running. It’s the nation’s first
federal financial regulator with only one job—protecting consumers from
unfair financial practices. Yet, until the bureau has a director, it
does not gain all of its new authority to protect the public.