Items Tagged with 'House Financial Services Committees'

ARTICLES

Final Jeopardy for Richard Cordray

Is the CFPB stonewalling?
On April 5, 2017, Richard Cordray, the director of the Consumer Financial Protection Bureau, gave his semiannual testimony before the House Financial Services Committee. Chairman Jeb Hensarling spent only minutes grilling the former Jeopardy! champion about CFPB stonewalling employees. But there's more to the story, and this is just the start.
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Republicans propose drastic overhaul of Dodd-Frank and CFPB

CHOICE Act 2.0 switches stance on structure of CFPB leadership
Following through on promises made by President Donald Trump, leading Congressional Republicans unveiled a new replacement for the Dodd-Frank Wall Street Reform and Consumer Protection Act. The new proposal goes further than previous Republican efforts to overhaul Dodd-Frank. Here's a look at the more aggressive version of the Financial CHOICE Act, which includes drastic changes for the Consumer Financial Protection Bureau.
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LA Times columnist writes scathing piece against House Financial Services Chairman

In defense of the CFPB
While side one, Congress Republicans, is busy spreading their message against the current structure of the Consumer Financial Protection Bureau, their adversary is busy doing the same. David Lazarus, wrote a scathing piece against House Financial Service Committee Chairman Jeb Hensarling, R-Texas, questioning his transparency and care about the American people. The House Financial Services Committee, however, didn’t take this hit lightly.
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Cordray answers charges that CFPB didn't take lead on Wells Fargo scandal

Rep. Ann Wagner: "The CFPB was asleep at the wheel"
During a heated exchange in the Consumer Financial Protection Bureau’s semi-annual hearing in front of the House Financial Service Committee, Rep. Ann Wagner, R-Mo., grilled Director Richard Cordray on the bureau’s lack of initiative in the massive Wells Fargo fake account scandal. Wagner focused the majority of her time on creating a timeline of events to prove her case that the bureau just stood by during the Wells Fargo scandal. In her words, the bureau was asleep at the wheel.
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Tensions reach boiling point at CFPB Director Cordray's hearing

Here are the few comments made on mortgage finance
Both sides of the aisle were primed for battle at the hearing of Consumer Financial Protection Bureau Director Richard Cordray, as this semiannual hearing happened in the midst of controversy around the bureau and Cordray’s position. Tensions quickly rose in the room as representatives questioned Cordray on the constitutionality of his bureau. One representative even asked Cordray why he doesn't just step down.
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Hensarling to CFPB's Cordray: You deserve to be fired immediately

Tells CFPB director to his face that he needs to go
Never one to shy away from a chance to batter the Consumer Financial Protection Bureau, House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, didn’t disappoint on Wednesday when Richard Cordray, the director of the CFPB, appeared before the committee. Hensarling was at his passive-aggressive best during his opening statement, poking at Cordray’s rumored political aspirations and telling Cordray, to his face, that he deserves to be fired by President Donald Trump.
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Rep. Ross: The CFPB needs to be held accountable

Doesn't adhere to Congress, president, taxpayers
In advance of the House Financial Services Committee’s semiannual hearing on the Consumer Financial Protection Bureau, U.S. Rep. Dennis Ross, R-Fla., presented his arguments for why the bureau is unconstitutional. Ross breaks down why he believes the CFPB "continues to operate in a manner unaccountable to Congress, the president and American taxpayers."
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Ballard Spahr: Here are some questions for the House to ask CFPB Director Cordray

Expands on previous unanswered questions
Consumer Financial Protection Bureau Director Richard Cordray hasn’t gone on record a lot in regards to his stance on the future of the bureau, along with his own future, despite the escalating uncertainty of both. Since the House Financial Services Committee will hold its semiannual hearing on the CFPB on April 5, Ballard Spahr came up with a list of questions that it thinks would be appropriate for committee members to ask Cordray.
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Tensions escalate at House hearing on constitutionality of the CFPB

This just brings more harm than good
Well, this is awkward. Four witnesses on the constitutionality of the Consumer Financial Protection Bureau sat before a House subcommittee on Tuesday morning, lending their expert knowledge to help sort through the current state of confusion around the bureau. The only problem is that they could barely get a word in edgewise. House Republicans profusely thanked them for coming as House Democrats condemned the hearing entirely.
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Maxine Waters accuses Wells Fargo execs of dodging fake account inquiries

Says execs questioned by Republicans, but won't sit for Democrats
Wells Fargo executives are dodging additional Congressional inquiries into the bank’s massive fake accounts scandal, Ranking Member of the House Committee on Financial Services Maxine Waters, D-Calif., said last week in a letter sent to Wells Fargo CEO Timothy Sloan. Click the headline for more on Waters' accusation and what Wells Fargo says about it.
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