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Director Cordray defends CFPB positions in appearance before Senate Banking Committee; comments on small business lending and...

Much of Director Cordray’s testimony in his appearance before the Senate Banking Committee yesterday consisted of his predictable defense of various CFPB positions. While the hearing was much less contentious than last...more

Director Cordray appears before House Financial Services Committee

Director Cordray was the sole witness at the hearing held yesterday by the House Financial Services Committee, which was entitled “The Semi-Annual Report of the Bureau of Consumer Financial Protection.” In November 2015, the...more

Director Cordray to appear at Financial Inclusion Forum hosted by Treasury Dept.

Director Cordray is scheduled to be a panelist at the Financial Inclusion Forum to be held in Washington, D.C. on December 1, 2015. Hosted by the U.S. Department of the Treasury and the U.S. Agency for International...more

Challenge to CFPB’s constitutionality reemerges

The issue of the CFPB’s constitutionality reemerged last week in court and Congress. On the judicial front, the U.S. Court of Appeals for the D.C. Circuit, in State National Bank of Big Spring, Texas, et al. v. Lew, et al.,...more

Director Cordray to appear before Senate Banking Committee on July 15

On July 15, 2015, the Senate Committee on Banking, Housing and Urban Affairs will hold a hearing on “The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress.” Director Cordray is the only scheduled witness....more

Community groups want CFPB action on small business lending data collection rules

A recent American Banker article written by officials of three community groups urges President Obama to publicly denounce Director Cordray for failing to issue regulations implementing the small business lending data...more

Lawmakers urge CFPB to reopen arbitration study

A group of more than 80 House and Senate Republicans have sent a letter to Director Cordray asking the CFPB to reopen its arbitration study. The CFPB released the final results of its empirical study of consumer arbitration...more

58 members of Congress urge CFPB to ban consumer arbitration

Senator Al Franken and 57 other members of Congress signed a letter sent to Director Cordray last week urging the CFPB “to move forward quickly to use its authority under the Dodd-Frank Act to issue strong rules to prohibit...more

Liberal and minority caucuses press Director Cordray for payday loan limits

The leaders of four liberal and minority Congressional caucuses have written to Director Cordray to urge the CFPB to adopt “strong protections” for payday loans. The letter was signed by the co-chairs of the Congressional...more

Director Cordray to testify on March 3 before House Financial Services Committee

The House Financial Services Committee will hold a hearing tomorrow, March 3, entitled “The Semi-Annual Report of the Bureau of Consumer Financial Protection” at which Director Cordray is expected to testify. The most recent...more

Director Cordray speaks to the National Association of Attorneys General

As he has done in prior years, Director Cordray spoke earlier this week to the National Association of Attorneys General. His prepared remarks focused on the familiar theme of “the four Ds” that create obstacles for consumers...more

Director Cordray provides update on CFPB’s public library partnerships

In his remarks last week at the Columbus Metropolitan Library, Director Cordray spoke about the partnerships that the CFPB is building with public libraries around the country to promote accessible financial education...more

CFPB announces November 13 “mystery” field hearing

Departing from its past practice, the CFPB has announced that it will hold a field hearing in Wilmington, Delaware on November 13 but has not yet disclosed what the hearing will be about. Instead, the announcement says only...more

Senator Crapo seeks information on CFPB’s regulatory streamlining efforts

In our blog post yesterday about the CFPB’s final rule allowing an alternative online delivery method for annual privacy notices, we commented that the CFPB has made limited progress on its regulatory streamlining initiative...more

Letter from leading Republicans to Director Cordray questions pre-confirmation actions

Following up on his earlier statement about the impact of the Supreme Court’s decision in NLRB v. Noel Canning on Richard Cordray’s actions taken prior to his July 16, 2013 confirmation by the Senate as CFPB Director,...more

Director Cordray to testify at July 30 House hearing on alleged CFPB employee discrimination

On July 30, 2014, the House Financial Services Committee’s Subcommittee on Oversight and Investigations will hold a hearing titled “Allegations of Discrimination and Retaliation and the CFPB Management Culture.” Director...more

D.C. federal court reconsiders decision on FOIA requests to CFPB

Last September, a federal district court in Washington, D.C. issued an opinion on Freedom of Information Act (FOIA) requests made by Judicial Watch to the CFPB for documents relating to Richard Cordray’s recess appointment as...more

Director Cordray gives prepaid card advice to state regulators

Director Cordray’s speech yesterday to the National Association of State Treasurers consisted primarily of his standard remarks about the CFPB’s handling of consumer complaints, financial education initiatives, and mortgage...more

How did Director Cordray fare on Jeopardy!?

CFPB Director Richard Cordray did not come close to matching his success in 1987 when he returned last night to Jeopardy! Mr. Cordray participated in the show’s “Battle of the Decades,” which brought back former champions to...more

Cordray testifies to Senate Banking Committee

Director Cordray was the only witness at the Senate Banking Committee’s hearing yesterday on the CFPB’s fourth Semi-Annual Report to Congress. As a Committee member observed, Director Cordray’s appearance represented his...more

House members urge CFPB to delay effective dates of mortgage rules

A letter dated November 5, 2013 to Director Cordray signed by 118 House members urges the CFPB to delay the effective dates of its ability-to-repay/qualified mortgage rule and other mortgage rules from January 2014 to January...more

Political office not in Director Cordray’s immediate future

Rumors have circulated for some time that Director Cordray might be considering a run at becoming Ohio governor. However, Politico has reported that at its Morning Money Breakfast today, Director Cordray indicated that he has...more

Director Cordray focuses on mortgage rules in remarks to American Bankers Association

A substantial portion of Director Cordray’s remarks yesterday at the American Bankers Association’s Annual Convention in New Orleans was directed at justifying the Bureau’s decision not to delay the January 2014 effective...more

D.C. federal court issues decision on FOIA requests to CFPB

Although the controversy over the validity of Richard Cordray’s recess appointment as CFPB Director effectively ended with his confirmation by the Senate this past July, Freedom of Information Act (FOIA) requests for...more

Director Cordray gives wide-ranging testimony to House Financial Services Committee

Although the House Financial Service Committee’s hearing last Thursday was entitled “The Semi-Annual Report of the Consumer Financial Protection Bureau,” the contents of the report received little mention from committee...more

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