Items Tagged with 'Richard Cordray'

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  • Former CFPB Director Richard Cordray secures Democratic nomination for Ohio governor

    Trump calls Cordray’s tenure at CFPB a “big failure”
    Former CFPB Director Richard Cordray secured the Democratic nomination for Ohio governor with a sizable victory over former Presidential candidate Dennis Kucinich. Cordray will face off against Mike DeWine, Ohio's attorney general, who has the support of President Donald Trump. In praising DeWine, Trump also called Cordray's tenure at the CFPB a "big failure."
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  • Top Democrats accuse CFPB’s Mulvaney of violating election law

    Claim Mulvaney used official speech to solicit donations in exchange for influence
    For the second time in the last eight months, the director of the CFPB stands accused of violating federal election law. Last time, it was former CFPB Director Richard Cordray under the election law microscope. The Office of Special Counsel eventually cleared Cordray of any election malfeasance, but now, it’s Cordray’s replacement who could be facing a Hatch Act investigation.
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  • Mulvaney’s CFPB yet to initiate enforcement actions

    “We won’t go looking for excuses to bring lawsuits”
    Former Director Richard Cordray left the Consumer Financial Protection Bureau 135 days ago, leaving his place to Acting Director Mick Mulvaney. Since then, the bureau has not issued a single enforcement action. Here's the bureau’s new approach toward keeping the finance industry in line.
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  • Mulvaney unveils sweeping plan to dramatically alter CFPB

    Mulvaney: We commit to the CFPB’s statutory responsibilities, but will go no further
    Over the past few months, Mick Mulvaney has provided smaller indications about how much differently the Consumer Financial Protection Bureau will function under his leadership than it did under the bureau’s former director, Richard Cordray. But Monday, Mulvaney fully revealed his plan to dramatically alter how the CFPB operates.
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  • Remaking the CFPB? Mulvaney wants to hear from you on how to fix bureau

    Will ask for public input on all functions of the bureau
    It’s clearly a whole new world at the CFPB with Mick Mulvaney in charge. How many more changes Mulvaney will bring to the bureau is now a question that the public (including the financial services industry) has the opportunity to weigh in on. Have an issue with the CFPB? Now's your chance to share your two cents.
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  • Top Hensarling aide to become CFPB chief of staff

    Becomes second Hensarling aide to take top job at CFPB
    The Republican reshaping of the Consumer Financial Protection Bureau is set to take another step forward, as for the second time in a month, the Trump administration is installing a close aide of one of the CFPB’s chief critics to a top position at the agency.
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  • Trump: CFPB not dropping penalties against Wells Fargo, bank will be fined for mortgage issues

    Responds to Reuters report on Mulvaney pausing regulatory action
    In addition to all the issues Wells Fargo faced over the last year, the bank said back in October that it planned to refund more than 100,000 borrowers who were improperly charged for rate lock extensions from Sept. 16, 2013, through Feb. 28, 2017. As it turns out, the CFPB was also looking into the issue and apparently planned to fine the bank for the improper rate lock fees, until Mick Mulvaney took over as acting director – or so it appeared.
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  • New York federal credit union sues Trump to block Mulvaney at CFPB

    Lawsuit claims installation of OMB Director at CFPB is “illegal”
    When Richard Cordray officially resigned as director of the CFPB last month, the agency was thrown into disarray after a fight emerged over who would replace Cordray, with Democrats on one side and Republicans on the other. Now, Democrats have what may seem like an unlikely ally in their fight over who's leading the CFPB – a financial institution that is regulated by the CFPB.
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  • Monday Morning Cup of Coffee: CFPB thrown into disarray with 2 acting directors

    Trump vows to revive bureau
    Over the long weekend, as you were eating Thanksgiving dinner and standing in long lines for Black Friday, the CFPB erupted into chaos. Two leaders now stand as acting deputies, and no one knows who they should actually follow. Plus, see what experts are forecasting as the biggest changes to the housing market in 2018.
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