Items Tagged with 'Richard Cordray'

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Consumer survey: Voters say CFPB should be run by a bipartisan commission

What would a commission would do for the bureau?
The highly contested leadership structure of the Consumer Financial Protection Bureau should be a bipartisan commission if it was up to voters to decide. The Consumer Bankers Association, the Independent Community Bankers of America, and the American Land Title Association teamed up to commission a poll of registered voters in key battleground states. Ever wonder what some consumers think of the CFPB?
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Everyone is convinced CFPB Director Cordray will run for Ohio governor

But will he make it in time?
As quickly as rumors started to spread that President Donald Trump should fire Consumer Financial Protection Bureau Director Cordray, so did talks that he will leave the bureau to run for Ohio governor. But that’s not to say that both couldn’t technically happen. Is Cordray ready to say goodbye D.C. and hello to his home state of Ohio?
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CFPB director: Small business lending should mirror mortgage regulations

Calls upon lenders for input
CFPB Director Richard Cordray announced the first step towards new regulation at the Small Business Lending Hearing in Los Angeles. He explained there is a lack of accessible credit for small business owners, and plans to create new regulation that would require lenders to report more info regarding their lending habits to small businesses. In the meantime, he called upon lenders to respond to the CFPB’s request for information.
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Financial Services Committee: Democrats made the case for firing CFPB Director

Did CFPB Cordray neglect his duty?
House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, is on record plenty of times urging President Donald Trump to fire Consumer Financial Protection Bureau Director Richard Cordray. This latest take, in a post on Medium by the Financial Services Committee, however, presented the case for firing Cordray in a different way. Instead, they said that Democrats unintentionally created a case to fire Cordray.
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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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Monday Morning Cup of Coffee: Cordray to face Financial Services Committee hearing

HUD celebrates fair housing month
CFPB Director Richard Cordray will face the House Financial Services Committee Wednesday morning as the committee reviews the bureau’s biannual report. This hearing, however, could have a few more curveballs than normal considering the uncertainty surrounding the regulator’s future. Plus, check out one surprising factor pushing home prices higher.
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Democrats rally together to support CFPB in case against PHH

Fight to protect bureau’s independent structure and constitutionality
Congressional Democrats filed an amicus brief on Friday with the D.C. Circuit Court of Appeals in support of the bureau's independent structure and constitutionality. “In creating the Bureau, lawmakers determined that it needed two key attributes to fulfill its mission: independence, and the ability to act promptly and decisively in response to new threats to consumers,” the lawmakers wrote.
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