Part 4/7:
On the other side of the political divide, criticisms have been leveled against the CFPB, focusing on its alleged lack of accountability. Critics, including Russell Vought, the current acting director of the Bureau, argue that the agency’s funding and operations do not align with traditional congressional oversight. Vought’s past affiliations with conservative think tanks like the Heritage Foundation and his views reflect a viewpoint that calls for the abolition of the CFPB, suggesting that consumer protection could be better handled by established banking regulators.