Up from the basement : the CFPB begins to take shape -- The shattered mortgage market -- Auto lending : the deals and the dealers -- The CFPB in action : did the Consumer Bureau get what it needed to do what was necessary?

This testimony addresses the proposal of the Obama Administration to create a new Consumer Financial Protection Agency (CFPA) which would have the authority to issue and enforce new regulations related to consumer lending products. This testimony criticizes the proposal on three grounds. First,...