The Consumer Financial Protection Bureau has an avowed socialist on one of its advisory boards — a revelation that has some conservatives fuming, saying it’s another reason why Congress must impose more transparency on the powerful bureau.
After a congressional Republican was denied entry into an advisory committee’s meetings in February, he filed legislation demanding that the bureau abide by all open-government rules that apply to other commissions.
On Tuesday, House Budget Committee Chairman Paul Ryan, Wisconsin Republican, proposed stripping the bureau of its independent funding and bringing it under strict congressional oversight.
The moves underscore how the relatively new bureau has become a flashpoint in the battle over the size and scope of the federal government and its web of regulations.
Mark Calabria, director of Financial Regulation Studies at the libertarian-leaning Cato Institute, said the appointment of Ron Ehrenreich to a position on the bureau’s Credit Union Advisory Council raises red flags. Mr. Ehrenreich is CEO and co-founder of the Syracuse Cooperative Federal Credit Union and 1988 vice presidential candidate for the Socialist Party USA.
Read more: http://www.washingtontimes.com/news/2014/apr/1/socialist-adviser-ra...