Has the CFPB stepped beyond its charter?

“Our mission is to make markets for consumer financial products and services work for Americans,” the Consumer Financial Protection Bureau says on its about page. A laudable goal, financial markets should work for consumers. But now the bureau has stepped past overseeing financial products, to overseeing the goods purchased with financial products.

CFPB encourages in-school branches

In its white paper on financial education released in April, the Consumer Financial Protection Bureau pointed to in-school branches as a way to build students’ financial literacy through hands-on learning.

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