In the Nov. 16 Washington Post, George Will depicted the CFPB as a “uniquely sovereign” agency, “untethered from all three branches of government, unlike anything created since 1789…”

Ben White, Politico’s Morning Money columnist, cited this response from AFR:

“Unbounded power? Uniquely sovereign? Answerable to no one? The Pundit Hyperventilation Prize goes to George Will for his jeremiad … The only thing that’s novel about the CFPB among financial regulators is that its primary focus is on defending the public.

“It was created by Congress to protect families and the market from dangerous or explosive loans, the same way the Consumer Product Safety Commission protects against explosive toasters. The financial crisis made it clear how much we need it, and polls show that most Americans, unlike Mr. Will, are very glad to have it.”