The Consumer Financial Protection Bureau (CFPB) increasingly strikes its critics as the worst aspect of the Dodd-Frank financial reform bill, an "overreaching monster" that hampers consumer choice.

Ballard Spahr consumer financial services partner Alan S. Kaplinsky told The Fiscal Times that the CFPB has "overextended its mandate" and is limiting choice. "Their very entrenched philosophy is that they know better than the consumer," he said. "We’re living in a nanny state right now. They think they’re in a better position to determine what’s right for the consumer than the consumer is for themselves."

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Consumer Financial Services