In 1925, President Calvin Coolidge said that “government control cannot be divorced from political control.” That piece of his governing philosophy put Coolidge at odds with the progressives of his own day, who believed a neutral, technocratic government was not only possible but desirable.
Their modern-day descendants have had their wish fulfilled, in part, through the Consumer Financial Protection Bureau (CFPB). Created under the Dodd-Frank Act of 2010 in response to the credit crisis of 2008-09, the agency was tasked with consumer protection in the nation’s financial sector. There were already a handful of agencies that did this, but what
