Congress Demands Answers About CFPB Authority For Recent Policymaking

This week, two House Republican Committee Ranking Members, Reps. Patrick McHenry (R-NC) from the House Financial Services Committee and James Comer (R-KY) from the House Oversight and Reform Committee, sent a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra seeking feedback on several recent CFPB actions.

The letter makes reference to the recent Supreme Court decision in West Virginia v. EPA that the members of Congress believe clarified the limitations of certain agency actions. In this case, the court confirmed that agency authority must be traceable to a clear delegation from Congress, and that attempts to expand delegated power through obscure provisions in enabling legislation is not enough, even though it might be textually plausible. There has been a lot of discussion arguing that this decision is a step forward to curb agency overreach and remind Congress of its legislative power and responsibilities.