McConnell Wants to Make Reasonable Reforms to the CFPB. Senate Minority Leader Mitch McConnell, R-KY, told attendees at an American Bankers Associations government relations event last week that the Dodd‐Frank Act was a huge mistake, and that Congress needs to mitigate the laws harm to the banking industry especially through the CFPB. We need to change the structure of [the CFPB] to make it responsible to someone, he explained. Weve said we need a supervisory board to which the director reports. We think the...