How the CFPB Was Forced Into Existence After the 2008 financial crisis, the political vultures swarmed, looking for a way to consolidate even more power. Enter Senators Chris Dodd and Barney Frank—two relics of the political machine—who saw their last opportunity to leave a lasting stain on America’s financial system. With an assist from Elizabeth Warren (a Harvard professor at the time, hellbent on becoming America’s financial nanny), the CFPB was shoved into Dodd-Frank under the guise of “consumer protection.” Warren likely expected to be crowned its first director, but her nomination sparked enough outrage that she retreated into a Senate run instead—where she continues to champion the same disastrous policies, just from a different seat of power. The CFPB…
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