Assertive Republican Oversight Await Ambitious CFPB Policy Agenda

Heightened Congressional scrutiny and a wave of document requests await the Consumer Financial Protection Bureau when Republicans take control of the House in January.

But the CFPB’s operational independence, alignment with the Biden administration’s policy orientation, and familiarity in dealing with a Republican-led House would largely enable the financial regulator to continue to pursue substantive policymaking, agency watchers say.

CFPB Director Rohit Chopra “has his priorities and increased oversight is not likely to dissuade him from pursuing them,” said Rachel Rodman, a partner at Cadwalader Wickersham & Taft LLP.

Republicans eked out a slim majority in the Nov. 8 midterm ...