Randy Neugebauer Meets With President-Elect Donald Trump
Could former Congressman Randy Neugebauer land a job in the Trump administration?
Neugebauer is reportedly under consideration to become the head of the Consumer Financial Protection Bureau.
The CFPB was formed in 2010 at the backing of Massachusetts Senator Elizabeth Warren. The agency has come under fire from Republicans in the past because some in the GOP believe that the agency targets small businesses with no effective oversight.
According to the Dallas Morning News, there has been a push in the past that would have caused the agency to be led by a bi-partisan committee rather than a director. House Financial Services Committee Chairman Jeb Hensarling of Dallas has pushed for that, and so did former Congressman Neugebauer according to the DMN:
Neugebauer has endorsed that proposition, filing a bill that would have a five-member commission lead the agency.
“Over the last several years, the Bureau’s actions and record have proven it can’t function in a sustainable manner,” Neugebauer said when he introduced the bill in 2015. “Perhaps, more than any other Washington agency, the CFPB has demonstrated a lack of transparency and a lack of accountability.”
The Dallas Morning News reports that a three-judge panel in October ruled that the agency structure is unconstitutional due to so much power being in the hands of a single director. However, the agency appealed that decision, so it may have a hearing before the full U.S. Court of Appeals in D.C.
Congressman Hensarling of Dallas told the Dallas Morning News on Thursday that he couldn't "think of anybody better" than Neugebauer for the position.