Consumer Confidential: A good consumer agency is a weak consumer agency, says Trump's consumer watchdog

If the stakes weren't so high, it would be incredibly fun watching financial firms and their Republican allies repeatedly make the case that the Consumer Financial Protection Bureau is a rogue agency determined to undermine capitalism, democracy and the American way of life.

My absolute favorite such attack came last September when the U.S. Chamber of Commerce, the Financial Services Roundtable and other business groups expressed shock and outrage that the CFPB had decided consumers should have a right to sue businesses, rather than be forced to arbitrate.

The business groups, arguing that arbitration is way better than litigation, sued the agency.

That's a tough act