News & Analysis as of

Consumer Financial Protection Bureau Richard Cordray

The Consumer Financial Protection Bureau is a United States federal agency established in 2010 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Agency is responsible for educating... more +
The Consumer Financial Protection Bureau is a United States federal agency established in 2010 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Agency is responsible for educating consumers about financial products and services, enforcing federal consumer financial laws and studying trends in consumer financial markets.     less -

CFPB Director Cordray Testifies Before House Financial Services Committee

by Goodwin on

On April 5, 2017, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray testified before the U.S. House of Representatives Financial Services Committee to present the CFPB’s semi-annual report, which is...more

Richard Cordray’s tenure as CFPB Director is uncertain

by Ballard Spahr LLP on

Clients are always asking me and others in our Consumer Financial Services Group about how long Richard Cordray will remain as CFPB Director. The short answer is nobody knows, perhaps not even Richard Cordray. ...more

Director Corday’s appearance before House Committee: strong on theater, weak on substance

by Ballard Spahr LLP on

Despite its long duration (over five hours including a recess for a vote), the House Financial Services Committee’s hearing on April 5 at which Director Cordray was the sole witness provided a strong dose of political theater...more

Director Cordray rehashes history behind CFPB’s creation and its final regulations

by Ballard Spahr LLP on

On March 30, Director Cordray gave his annual speech to the United States Chamber of Commerce’s 11th Annual Capital Markets Summit.  His prepared remarks focused on the CFPB’s role in adopting regulations....more

Some suggested questions for Director Cordray’s expected appearance at April 5 House hearing

by Ballard Spahr LLP on

On April 5, 2017, the House Financial Services Committee will hold a hearing, “The 2016 Semi-Annual Reports of the Bureau of Consumer Financial Protection Bureau.” Since Director Cordray has appeared at all of the...more

Consumer advocates are split on whether Director Cordray should finalize arbitration rule

by Ballard Spahr LLP on

On Monday, during “The CFPB Speaks” panel I moderated that was part of the Practicing Law Institute’s 22nd Annual Consumer Financial Services Institute in Manhattan, Diane Thompson, Deputy Assistant Director of the CFPB’s...more

CFPB May Focus on Credit Reporting as an Enforcement Priority

by Goodwin on

On February 28, 2017, the CFPB issued its monthly complaint report spotlighting credit reporting complaints (the Spotlight). Two days later, the Bureau issued a Special Edition of its Supervisory Highlights Report, which also...more

Director Cordray and Comptroller Curry speak at LendIt USA conference

by Ballard Spahr LLP on

Earlier this week, we attended the LendIt USA conference in New York City, a leading annual fintech conference, at which CFPB Director Richard Cordray and Comptroller of the Currency Thomas Curry both spoke....more

Cordray’s CNBC interview answers few questions

by Ballard Spahr LLP on

Recently, Richard Cordray was interviewed by CNBC while eating breakfast at a diner in his hometown in Ohio.  The interview was more noteworthy for what it failed to cover than for what it covered.  He was not asked the...more

Trump ignores Dodd-Frank and CFPB in Congressional address

by Ballard Spahr LLP on

In his more than one hour nationwide address last night to a joint session of Congress, President Trump discussed a broad range of topics: repeal of Obamacare, tax relief, immigration, rebuilding the Country’s...more

Plaintiffs in Another Case Challenging CFPB's Constitutionality Move to Intervene in PHH Case

by Ballard Spahr LLP on

The plaintiffs in State National Bank of Big Spring, Texas, et al. v. Lew have filed a "Motion To Intervene In Any En Banc Proceeding That May Be Granted" in the PHH case. The motion follows the D.C. federal district court's...more

D.C. Circuit Grants En Banc Review on the Constitutionality of the CFPB Leadership Structure

by MoFo Reenforcement on

CFPB Director Richard Cordray has a little more job security this week than last week. On February 16, 2017, the U.S. Court of Appeals for the District of Columbia granted the CFPB’s request for an en banc review of its...more

Plaintiffs in another case challenging CFPB’s constitutionality move to intervene in PHH case

by Ballard Spahr LLP on

The plaintiffs in State National Bank of Big Spring, Texas, et al. v. Lew have filed a “Motion To Intervene In Any En Banc Proceeding That May Be Granted” in the PHH case. The motion follows the D.C. federal district court’s...more

Director Cordray responds to questions on proposed arbitration rule

by Ballard Spahr LLP on

Director Cordray has sent a letter to Senator Jeff Flake responding to a series of questions posed by the Senator on the CFPB’s proposed arbitration rule. The comment period on the proposed rule closed on August 22, 2016. ...more

"The Uncertain Future of the Consumer Financial Protection Bureau"

Since its inception in July 2011, the Consumer Financial Protection Bureau (CFPB) has sought to prove itself as a powerful regulator through significant enforcement actions and settlements. In 2016, the CFPB continued to...more

Some thoughts on President Trump’s authority to replace Director Cordray

by Ballard Spahr LLP on

There has been some debate about President Trump’s authority to designate a replacement for Director Cordray should he resign or be removed by the President. The Dodd-Frank Act authorizes the CFPB Director to appoint a...more

Congressional Black Congress Urges President Not to Remove CFPB Director Cordray

by Goodwin on

On January 24, 2017, 38 members of the Congressional Black Caucus (CBC) sent a letter to President Trump urging him to cease any planned efforts to remove Consumer Financial Protection Bureau (CFPB) Director Richard Cordray....more

Director Cordray’s Wall Street Journal interview today

by Ballard Spahr LLP on

Here are the highlights from Richard Cordray’s interview earlier today with the Wall Street Journal. He refused to respond to the question of whether or not the memo issued on January 20 on behalf of President Trump by...more

Trump Administration issues regulatory freeze; application to CFPB uncertain

by Ballard Spahr LLP on

On Inauguration Day, Reince Priebus, Assistant to the President and Chief of Staff, issued a “Memorandum for the Heads of Executive Departments and Agencies” with the subject line “Regulatory Freeze Pending Review” that...more

Another view on Presidential authority to remove Director Cordray

by Ballard Spahr LLP on

As rumors swirl that President-elect Trump is planning to remove Director Cordray immediately after January 20th, conflicting views have emerged about his authority to do so before the appeal in PHH is resolved. We...more

Lawmakers take sides on Director Cordray’s future; Senator Warren urges consumer advocates to defend CFPB

by Ballard Spahr LLP on

Battle lines over Director Cordray’s future at the CFPB are predictably forming along party lines. Earlier this week, two Republican senators sent a letter to Vice President-elect Pence urging Director Cordray’s removal by...more

Tenth Circuit ruling on constitutionality of SEC administrative judges: implications for CFPB

by Ballard Spahr LLP on

Just before year-end, the U.S. Court of Appeals for the Tenth Circuit, in Bandimere v. United States Securities and Exchange Commission, set aside an SEC decision finding the petitioner liable for violating various securities...more

Civil rights groups voice support for Director Cordray

by Ballard Spahr LLP on

Earlier this week, we blogged about reports that Director Cordray has no plans to leave the CFPB before his term expires in July 2018. Yesterday, several national civil rights groups issued a joint statement applauding the...more

Director Cordray reported to have no departure plans

by Ballard Spahr LLP on

Politico has reported that CFPB Communications Director Jen Howard has indicated in an e-mail that Director Cordray has no current plans to leave the CFPB. According to Politico, Ms. Howard stated “Director Cordray was...more

Election results portend significant changes for CFPB

by Ballard Spahr LLP on

As a result of Donald J. Trump’s election as President, coupled with the Democrats’ failure to wrest control of the House or Senate from the Republicans, the CFPB can be expected to undergo significant changes that are likely...more

248 Results
|
View per page
Page: of 10
Cybersecurity

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
Feedback? Tell us what you think of the new jdsupra.com!