The best consumer protection is consumer choice. When banks, credit unions, and financial technology companies compete for Americans’ business, consumers benefit from better products, lower costs, greater convenience, and expanded access to credit. But competition cannot thrive when Washington changes the rules every four years.

For too long, that has been the story at the Consumer Financial Protection Bureau. Congress gave the CFPB broad authority without enough accountability, allowing regulatory policy to swing dramatically from one administration to the next.