Items Tagged with 'Richard Cordray'

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What will come first: July 2018 or new plans for the CFPB?

Expert attorney on the mostly likely process going forward
The U.S. Court of Appeals for the District of Columbia Circuit finally ruled on the landmark case between the Consumer Financial Projection Bureau and PHH in favor of the CFPB. The decision significantly lengthens the timeline for knowing the fate of the bureau and its director, Richard Cordray. So what’s likely to happen now? Alan Kaplinsky, partner and leader of Ballard Spahr’s Consumer Financial Services Group, explains what he thinks will happen.
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Fire CFPB director? Cordray responds to calls for his head

Bureau still trucking along
Consumer Financial Protection Bureau Director Richard Cordray is caught in the crosshairs of one of the biggest battles in Congress, as Democrats run to his aid and Republicans tear him and his agency apart. But despite all this quickly growing controversy, Cordray appears to be conducting business as usual.
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Here’s the easiest way for Trump to fire CFPB Director Cordray

Would only need to issue one order
The fight continues for CFPB Director Richard Cordray’s job. While Democrats stand behind him, insisting he won’t leave quietly, Republicans call for his termination. As it turns out, there may be one very simple way that the administration could fire the director under full protection of the constitution, and it would only require one presidential order.
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[Video] Hensarling to President Trump: Fire CFPB Director Cordray ASAP

The move would be a step in the right direction
Calls to fire Consumer Financial Protection Bureau Director Richard Cordray strengthened after President Donald Trump signed an executive order last Friday to roll back the Dodd-Frank Wall Street Reform Act. To the House Financial Services Committee Chairman, firing Cordray would be a huge step in the right direction.
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Stop crediting CFPB Director Richard Cordray for nailing Wells Fargo

Journalists did it
Wells Fargo made national headlines last September after investigations revealed bank employees opened more than 2 million fake accounts to get sales bonuses. Get past the proud press releases from government agencies, and you’ll find that one of the biggest financial scandals to ever be uncovered was exposed by journalists, not Richard Cordray's Consumer Financial Protection Bureau, which so many Democrats in Congress like to give him credit for.
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Senate Republicans unveil bill to replace CFPB director with committee

Will the third time be the charm?
Sens. Deb Fischer, R-Nebraska; John Barrasso, R-Wyoming; and Ron Johnson, R-Wisconsin, introduced a bill this week that would replace the single director of the CFPB with a five-member bipartisan committee, a change the Republican Party has long pushed for. According to Fischer's office, this is actually the third version of this bill, which she previously introduced in 2015 and 2016 to no avail. But will the third time be the charm?
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CFPB Director Cordray: We will continue enforcing existing rules

Despite his entire role being questioned
Even though there’s an ongoing battle over his unusual authority, Consumer Financial Protection Bureau Director Richard Cordray said he has no plans to stop enforcing existing consumer protection rules. Regardless of who is in power, the CFPB is a law enforcement agency, separate of partisan politics, according to Cordray.
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Democratic state AGs join fight to save CFPB from Trump

Seek to intervene in PHH fight over CFPB independence
The embattled Consumer Financial Protection Bureau, which top Congressional Democrats recently pledged to defend against potential attacks from the Trump administration, has more defenders in its corner now, as more than a dozen state attorneys general are joining the fight to protect the CFPB.
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Senate Democrats to Trump: Do not fire CFPB director, you've been warned

"Why would Trump want to go after the bureau in his first week of office?"
Senate Democrats are adamantly fighting back against growing calls for President-elect Donald Trump to fire Consumer Financial Protection Bureau Director Richard Cordray. This time around Senate Democrats held a press call to emphasize the importance of Cordray and what the consequences would be if Trump attempted to fire him.
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