If this sounds a little familiar – considering the fears that were raised in the last two months about the federal goverment suddenly re-discovering all of that deferred tax in 401(k) plans and eyeing it as a short-sighted fix to the fiscal cliff issue – you're not wrong at all.

(The CFPB, by the way, is the new organization launched after the Madoff scandal with some high-minded but admittedly vague directives.)

The Bloomberg profile, citing insiders with the agency, says that the Bureau believes it can play a more concise role than your other favorite federal retirement industry watchdogs – the SEC and the DOL – as well as superceding the awfully advisor- and generally industry-friendly help provided by FINRA (that's me being a little tongue-in-cheek, by the way).

Scared yet? Maybe you should be. The impetus, states CFPB chief Richard Cordray, is the perception that the existing organizations aren't actually focusing enough of their time and energy on the ever-expanding retirement field.

And that's perhaps a valid point, given that there's no real centralized government organization – or semi-govermental watchdog body – whose primary role is looking out for retirees, the soon-to-explode boomer generation or even us younger workers flailing around with the almost entirely self-directed world of 401(k)s.

Would yet another set of Fed eyes really serve to protect the interests of participants, or help to establish a more guaranteed nationwide retirement benefit system?

My suspicion is that you have a strong opinion on that issue. And some mixed feelings about just another organization looking over your shoulder. I'd love to hear what you have to say.