There are other aspects of the CFPB that are problematic, too. MyFICOans see the help the bureau gives, but that is only the public face. The bureau either already has or potentially has the ability to become a kind of NSA of consumer data. Is anyone naive enough to imagine that the federal government set up an agency solely to be helpful to little people? Even if the CFPB was established with the best of intentions, it is a federal bureaucracy and is designed to go the way of all bureaucracies, to grow, to serve itself, and to dictate without accountability.
It's your view that every independent agency created by Congress, such as the SEC, the FTC, the FCC, etc, were all "designed to go the way of all bureaucracies, to grow, to serve itself, and to dictate without accountability."?
And what is your view of corporations created by legislatures, what are they "designed" to do?
What is the alternative to creating independent agencies to enforce the law? Have the President go around writing summonses?