Bloomberg Law
May 11, 2020, 9:30 AM

Financial Watchdog’s Conflicted Task Force Earning Top Dollar

Evan Weinberger
Evan Weinberger
Assistant Managing Editor
Lydia Beyoud
Lydia Beyoud
Fintech & Regtech Reporter

A Consumer Financial Protection Bureau task force that has been criticized in the past for its pro-business leanings stands to earn hundreds of thousands of dollars to offer advice on how to “harmonize and modernize” federal laws aimed at protecting the public.

The task force members’ prorated salaries are near the top of the pay scale for the CFPB, an agency frequently criticized by Republican lawmakers for paying its staff more generously than most other federal agencies.

“This looks like a plan to draft a far-right wing agenda for gutting 40- to 50-year-old consumer protections, on the public’s dime,” said ...

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