Sen. Lee: Obama’s Consumer Bureau Set Up in Manner ‘Reserved For Despots’

( – Testifying before the House Committee on Oversight and Government Reform on Tuesday, Sen. Mike Lee (R-Utah) said that the new Consumer Financial Protection Bureau, which is funded directly by the Federal Reserve with no congressional oversight and to which President Barack Obama appointed a director without seeking the Senate confirmation required by the U.S. Constitution, represents the sort of unaccountable system of government “historically reserved for despots.”

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