http://www.usatoday.com/news/opinion/editorials/2011-07-24-Consumer-Financial-Protection-Bureau-editorial_n.htm.....
....Republicans allied with the banking industry have couched demands to restructure the bureau as a way to make it more "accountable." But replacing its single director with a five-member board would make it less nimble and more political. The critics also want to force the agency to come before Congress to plead for its annual budget, something other banking regulators do not do. That would give the banking lobby a shot every year to starve it.
President Obama already caved to GOP pressure by passing over an obviously qualified choice for the job as director — Harvard law professor Elizabeth Warren, who came up with the idea for the agency and brought it to reality. Obama nominated an outstanding second choice, former Ohio attorney general Richard Cordray. But 44 Senate Republicans insist they won't confirm any director until they get their way on restructuring.
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They obviously want to have a five member board to tie the agency up with stalemates to keep it from acting on issues.