Writing for bankstocks.com, commentator Thomas Brown says while the Consumer Financial Protection Bureau (CFPB) is supposed to insure consumers get a fair shake when obtaining a mortgage, it will end up making credit more expensive and tougher to get for the people it was intended to help. It is accountable only to the Federal Reserve, not to Congress and therefore the American people—what’s more, even the president cannot fire the director.

As an example, Brown says the budget for renovating its Washington headquarters has already increased from $59 million to $139 million, or $316 per square foot, over twice the $150 per square foot it typically costs to renovate class A office space in the District. Brown says its an ominous note when a governmental—and its director– agency are both beyond Congressional oversight, as MHProNews.com has learned The only thing Congress can do is ask Director Richard Cordray questions about what he is doing and how much he is spending, and nothing else.

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(Image credit: Steve Rhode/getoutofdebt.org)