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Dodd and Frank Reunite to Defend Consumer Bureau's Succession Plan
Government Executive: The chief sponsors of the 2010 financial reform law that created the controversial Consumer Financial Protection Bureau defended their handiwork on Thursday as legal and bureaucratic maneuvering continued over the issue of who is the agency’s true acting director.
At the heart of the controversy is the proper interpretation of the 1998 Federal Vacancies Reform Act, which contains language that both former Sen. Chris Dodd, D-Conn., and former Rep. Barney Frank, D-Mass., now say they considered and rejected during the drafting of the final financial reform bill as a basis for determining proper succession plans at the CFPB.
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