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Should they have more rule-making authority?
What rule-making authority do the U.S. IP agencies have?
In both cases, the new entity would have rule-making authority but limited enforcement powers.
The Fed already has much of the rule-making authority that would be designated for a new consumer agency.
It was adopted on Feb. 1 by the Administrative Board of the Courts, a five-judge body that has broad rule-making authority.
Both are marred — though in different ways — by exceptions to the new rules, and by restrictions on the new consumer agency's independence and rule-making authority.
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Other federal regulators have had supervisory and examination authority over other parts of the agency's portfolio, which includes rule-making and examination authority over financial institutions with assets over $10 billion.
To protect consumers, the new agency must be truly autonomous and have full rule-making and enforcement authority.
The lack of a common rule-making and enforcing authority means, they argue, that the international arena is essentially a self-help system.
Those include limiting Evers' ability to make appointments, restricting his authority over the rule-making process and making it more difficult for him to block a work requirement for Medicaid recipients.
Ed Mierzwinski, director of the consumer program for the National Association of State Public Interest Research Groups, said the new agency is somewhat weakened by a "burdensome rule-making process" regarding its authority to police payday lenders, for example.
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