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Oklahoma banker: Replace CFPB director position with board

ABA Chairman-Elect – and chairman and CEO of SpiritBank in Bristow – Albert C. "Kell" Kelly, Jr., testified before the Senate Banking Committee in Washington, D.C., on July 19, stating that Congress should replace the Consumer Financial Protection Bureau's director position with a board or commission.

Kelly, who was also the OBA chairman in 2003-04, felt that replacing the all-powerful director position with a multi-person board or commission would strengthen the accountability of the Bureau by providing needed checks and balances.

You can read Kelly's entire testimony by clicking here.

 

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