The CFPB

Lindsey Graham calls CFPB ‘Stalinist’ - Robin Bravender - POLITICO.com
The independence of the Consumer Financial Protection Bureau is what gives this government agency its strength. By having Congress oversee it the CFPB is more subject to partisan influence. Progressives will passionately protect consumers and in a preventative manner if need be. Conservatives will let the “free market” decide and will Monday morning legislate whatever crisis happens to appear when the shit hits the fan; and it will when you let the “free market” ride.
In San Bernardino, we see payday lenders or euphemistically the alternative banking system take advantage of consumers by making loans at rates as high as 300%. I know because I had to use them from time to time to cover cash shortfalls. Living on the margins is tough and one slip can land you into poverty, but I have my youth for now. But, I despise having to borrow against my next check and will ensure that the lending works to my advantage.
The CFPB will bring much needed oversight to the industries under its charge and hopefully remain vigilant when the scrutiny is gone.