More than 150 law professors defend CFPB


A group of 158 law professors and scholars on Tuesday defended the Consumer Financial Protection Bureau in a letter to top lawmakers, saying a bill to overhaul the Dodd-Frank Act would allow lax lending standards to creep back into the financial system.

The 19-page letter was signed by prominent names in consumer finance and academia, including Michael Barr, a former Treasury official and key architect of Dodd-Frank who is now at the University of Michigan; Joseph William Singer, a Harvard law professor; and Jay Westbrook, a law professor at the University of Texas in Austin and the co-author with Sen. Elizabeth Warren of a book on bankruptcy.

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