From the “well if the shoe fits” department this gem.
Massachusetts Senator Elizabeth Warren is a tad upset that the GOP-aligned American Action Network is running an ad criticizing her creation the Consumer Finance Protection Bureau. Sen. Warren comes off as an overbearing Bolshevik with her image embedded in a sinister flag.
As the ad notes, the agency doesn’t do much to help consumers in the big picture of things. CFPB layers some 500 regulations that make banking more cumbersome. It’s a complicating issue.
Senator Warren has taken to the Twittersphere to remind her followers that the CFPB has returned billions to beleaguered consumers cheated by the big bad banks.
— Elizabeth Warren (@elizabethforma) November 11, 2015
For the low information voter world from which she draws, the senior Senator may have the best of the political optics. Banks are not well-liked. But the harm of over-enthusiastic regulations is often unseen; the loans not made, the credit not extended. And like most regulations they impose a burden and lack accountability. The CFPB is not immune to the Leviathan disease. That’s a lot of jobs for law school students and consumer advocates.