Items Tagged with 'Richard Cordray'


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.
Read More

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.
Read More

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.
Read More

Trump eyes former Rep. Randy Neugebauer to eventually lead CFPB

"No other candidates are being looked at yet"
The uncertain future of the Consumer Financial Protection Bureau isn’t stopping President-elect Donald Trump from weighing his options for a future director to oversee the financial regulator. And the person Trump is currently eyeing, former Rep. Randy Neugebauer, R-Texas, has ties to the CFPB that go way back.
Read More

Democrats won’t let CFPB Director Cordray go without a fight

Cordray’s term set to expire July 2018
Democrats in Congress are banding together to make sure Consumer Financial Protection Bureau Director Richard Cordray won’t be prematurely unseated amid strengthening calls from Republicans to have the director fired. And as a subtle reminder, no president has ever removed an independent agency head for cause. Is Cordray going to be the first?
Read More

The war around CFPB Director Richard Cordray

The controversial position Consumer Financial Protection Bureau Director Richard Cordray sits in is only intensifying as government officials push to have him fired and policy groups urge consumers to defend him. The future of the CFPB and Cordray rests in the fate of two different situations, one of which became one of the top trending hashtags on twitter Monday.
Read More

CFPB announces handful of leadership changes

Five new individuals join leadership team
The Consumer Financial Protection Bureau announced its first leadership changes within the bureau for 2017 following several leadership team changes in 2016. “The mix of experience and talent this group brings will provide great value to the Bureau as we continue to work on behalf of consumers everywhere,” said CFPB Director Richard Cordray.
Read More

Civil rights groups stand behind CFPB director Cordray

Head of bureau besieged by incoming Trump administration
Richard Cordray, the director of the Consumer Financial Protection Bureau, has been under fire from the incoming Trump administration, which has declared its intention to dismantle the Dodd-Frank Act which established the bureau. Despite that, Cordray is planning to finish his term as director, and is now getting support from several civil rights groups.
Read More

Why we should quit wasting money on consumer education

Here are 3 better ideas for the $128 million in the CFPB's civil penalty fund
In the first part of September, the CFPB collected $100 million from Wells Fargo after it was revealed that the bank’s employees had opened 2 million fake accounts that customers didn’t know about. By law, the CFPB has only two ways to spend that money: compensating victims harmed by financial institutions and educating consumers. If you have hundreds of millions of dollars that can only be spent on consumer education, it’s easy to imagine how that goal could take on a life of its own, spawning a bloated consumer education complex overnight. Here are some better ideas.
Read More