Rep. Jeb Hensarling (R-Texas) wrote to Consumer Financial Protection Bureau Director Richard Cordray, saying that because of the recent ruling in the bureau’s case against PHH Corp., the CFPB is an executive agency subject to Executive Orders from the president.
Included in Hensarling’s list are orders requiring agencies to assess all costs and benefits of regulatory alternatives, including the alternative of not regulating, and to ensure meaningful and timely input by tribal officials in rules that would have tribal implications.
Read on for the details.