A new poll of voters in key battleground states found that a majority want changes at the CFPB
More than half the registered voters in key battleground states want the Consumer Financial Protection Bureau’s leadership structure reformed, according to a new poll.
The poll, conducted by Morning Consult and commissioned by the Consumer Bankers Association, the Independent Community Bankers of America, and the American Land Title Association, found that just 14% of respondents felt the CFPB should keep its current structure.
Meanwhile, 58% of respondents said they thought the agency should be run by a bipartisan commission. Respondents preferred a structure with a commission over the current, single-director structure by a 3-1 margin.
“It’s hard to find any policy position on Washington that a majority of Americans agree on,” said Michelle Korsmo, CEO of ALTA. “So when 58% of consumers said the CFPB’s authority to supervice financial institutions, write rules and enforce penalties is too important to be controlled by a single director, Congress should listen to them.”
Other key findings of the survey included:
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Hensarling: CFPB is Cordray’s partisan ‘war machine’
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The poll, conducted by Morning Consult and commissioned by the Consumer Bankers Association, the Independent Community Bankers of America, and the American Land Title Association, found that just 14% of respondents felt the CFPB should keep its current structure.
Meanwhile, 58% of respondents said they thought the agency should be run by a bipartisan commission. Respondents preferred a structure with a commission over the current, single-director structure by a 3-1 margin.
“It’s hard to find any policy position on Washington that a majority of Americans agree on,” said Michelle Korsmo, CEO of ALTA. “So when 58% of consumers said the CFPB’s authority to supervice financial institutions, write rules and enforce penalties is too important to be controlled by a single director, Congress should listen to them.”
Other key findings of the survey included:
- More than half of voters thought a commission would help consumers and small businesses.
- Sixty-three percent said a commission would make the CFPB fairer, while 62% said it would make the agency more accountable, and 60% thought it would make the agency more transparent.
- Fifty-nine percent said they believed a commission would better position the CFPB to help consumers over the long run.
Related stories:
Hensarling: CFPB is Cordray’s partisan ‘war machine’
Democrats have made their own case for firing Cordray – GOP
