Brian Johnson, Deputy Director, Consumer Financial Protection Bureau
Congress established the Consumer Financial Protection Bureau (CFPB) in the wake of the 2008 financial crisis to serve as a national watchdog that protects consumers in the financial marketplace. Congress gave the CFPB significant independence and a sweeping range of administrative and civil authorities to promulgate and enforce rules in the financial services arena. Now, that far-reaching authority and the Bureau’s structure as an independent agency, not subject to typical congressional and executive branch oversight, have been challenged as unconstitutional. Cases aiming to resolve the issue are moving toward the Supreme Court.
At the George Mason University Antonin Scalia Law School, CFPB Deputy Director Brian Johnson and Professor Thomas P. Vartanian held a broad-ranging armchair discussion about the agency, its agenda, and what consumers and financial executives can expect from it in coming years.
Our thanks to Brian Johnson for sharing his time and perspectives with the Law School community.