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January 13, 2017 at 05:20 AM
The high-stakes battle over the CFPB continues unabated, as President-elect Donald Trump this week appointed an outspoken critic of the agency to his CFPB transition landing team, as Sen. Elizabeth Warren (D-Mass.) urged bureau supporters to fight efforts to weaken it.
Trump added three members to his CFPB landing team, most notably Kyle Hauptman, executive director of the Main Street Growth Project, an advocacy organization that pushes “pro-growth economic policies.”
The President-elect also appointed two others to the group–Consuela Jordan, president of a government relations firm and President of the National Black Republican Leadership Council and Julie Bell Lindsay, managing director and general counsel of capital markets and corporate reporting at Citigroup.
They join former SEC Commissioner Paul Atkins, who heads the transition’s overall financial regulatory agency effort.
Hauptman has been an ardent critic of the CFPB.
“The CFPB is a strange agency,” he and former House Speaker Newt Gingrich (R-Ga.) wrote in an op-ed piece in The Hill newspaper in October. “It isn’t subject to appropriations, instead deriving its funding from the Federal Reserve, and doesn’t have an SEC-like bipartisan commission structure. Consider that while the CFPB was using questionable statistical modeling to allege widespread racial discrimination in auto loans, the Government Accountability Office (GAO) found evidence of racial and gender discrimination against CFPB employees. This agency needs a “body camera.”’
