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 -

The State AG Report Weekly Update

by Cozen O'Connor on

AG Elections- Republican Todd Atwater Announces Bid for South Carolina Attorney General- Republican state Representative Todd Atwater has declared his candidacy for South Carolina AG in 2018. ...more

Battle of Acting Directors: Round One to Mulvaney

Earlier this week, a federal judge refused to grant a temporary restraining order preventing Mick Mulvaney from assuming the reins of the Consumer Financial Protection Bureau (CFPB) as acting director....more

Cordray announces candidacy for Ohio governor

by Ballard Spahr LLP on

Ending many months of speculation, former CFPB Director Richard Cordray announced yesterday that he is running for Ohio governor....more

Court Rules in Favor of Trump Appointee for CFPB Acting Director Slot

As we reported on earlier today, Consumer Financial Protection Bureau (CFPB) Deputy Director Leandra English filed a lawsuit late Sunday evening in the U.S. District Court for the District of Columbia (District Court) seeking...more

The Trump Administration Gets Its Man at the CFPB

Mick Mulvaney is secure in his new title as Acting Director of the Consumer Financial Protection Bureau (CFPB)—at least for now—as a result of a Trump-appointed judge’s decision, issued on November 28, 2017. The decision came...more

Democratic lawmakers, Republican attorneys general submit amicus briefs in CFPB Acting Director dispute

by Ballard Spahr LLP on

Past and present Democratic Representatives and Senators filed an amicus brief in support of the motion for a temporary restraining order filed by Leandra English to block Mick Mulvaney from exercising the authority of CFPB...more

TRO denied in CFPB Acting Director dispute; Mulvaney imposes regulatory freeze

by Ballard Spahr LLP on

Tuesday afternoon, Judge Timothy Kelly of the D.C. federal district court denied Leandra English’s motion for a temporary restraining order (TRO) to prevent President Trump from appointing or recognizing the appointment of a...more

Round 1 of CFPB Leadership Controversy Goes to Mulvaney — Why Does It Matter?

by Faegre Baker Daniels on

An unusual controversy over the leadership of the Consumer Financial Protection Bureau (CFPB) erupted last week, the resolution of which has important ramifications for consumer financial services regulation. A federal...more

Showdown Over CFPB Leadership Continues

In an interesting turn of events over Thanksgiving weekend, outgoing Consumer Financial Protection Bureau (CFPB) Director Richard Cordray promoted CFPB Chief of Staff Leandra English to the position of CFPB deputy director on...more

US Consumer Financial Protection Bureau Director to Step Down

by Shearman & Sterling LLP on

US Consumer Financial Protection Bureau Director Richard Cordray sent a memo to his staff announcing that he plans to leave his position by the end of the month...more

Another argument for why Mick Mulvaney is the CFPB Acting Director

by Ballard Spahr LLP on

As we reported, the DOJ’s Office of Legal Counsel (OLC) has issued a memorandum to the President’s Counsel in which it opined that the President has the legal right to appoint Mick Mulvaney CFPB Acting Director under the...more

Window on Washington - Vol. 1, Issue 36

by Clark Hill PLC on

So much to do with little time: Lawmakers are back from Thanksgiving break and facing chaos on Capitol Hill, as Republicans hope to overhaul the tax code, reform Obamacare, and avoid a government shutdown. There are 34 days...more

The CFPB Takes No Holiday for Thanksgiving Leaving the Leadership of the Agency in Doubt

by Clark Hill PLC on

While the rest of the country was scattering for Thanksgiving celebrations, Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB or Bureau) since July 17, 2013, was quietly plotting his own...more

Next Steps for the CFPB

by Davis Wright Tremaine LLP on

Richard Cordray, the director of the U.S. Consumer Financial Protection Bureau (CFPB), resigned from this post at the close of business last Friday, November 24. In a statement to staff, he said that Leandra English, the...more

Trouble With A Capital C: Cordray’s Move To Name His Own Successor At The CFPB

by Hinshaw & Culbertson LLP on

In contrast to his big wins on Jeopardy! in the 1980s, Richard Cordray lost badly in 2017 after staking so much on the Consumer Finance Protection Bureau’s (“CFPB”) Final Rule, which would have prohibited the use of class...more

Federal court asked to decide who is CFPB Acting Director

by Ballard Spahr LLP on

Last Friday, November 24, effective at midnight, Richard Corday resigned as CFPB Director.  Earlier in the day, the CFPB issued a press release announcing that Mr. Cordray had named Leandra English, the CFPB’s Chief of Staff,...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Time Inc. announced yesterday that it’s sold itself as part of a roughly $3 billion all-cash transaction to Meredith Corporation. Meredith, which publishes Family Circle and Better Homes and Gardens, among other glossies, is...more

Judge Timothy Kelly, a Trump nominee, to hear lawsuit to determine CFPB Acting Director; TRO hearing scheduled for 4:30 today

by Ballard Spahr LLP on

The declaratory judgment action and motion for temporary restraining order filed by Leandra English in the D.C. federal district court for a declaration that she, and not Mick Mulvaney, is the CFPB Acting Director has been...more

Changes Ahead At the Consumer Financial Protection Bureau

by Butler Snow LLP on

Richard Cordray was confirmed as the head of the Consumer Financial Protection Bureau (CFPB) in 2013 under President Barack Obama. The CFPB was formed by Congress following the 2008 financial crisis. Although his term ends...more

Will CFPB Director Richard Cordray's Resignation Usher in a New Era of Financial Services Regulation?

by Clark Hill PLC on

On Wednesday, November 15, 2017, Richard Cordray, the confirmed Director of the Consumer Financial Protection Bureau ("CFPB" or "Bureau") as of July 16, 2013, revealed that he will leave that position by the end of the month....more

Cordray to Resign as CFPB Director

by BakerHostetler on

In an email to CFPB staff on Wednesday, Director Richard Cordray announced that he will resign by the end of November. Although it is rumored that Director Cordray will run for governor of Ohio, he did not specify his future...more

The State AG Report Weekly Update

by Cozen O'Connor on

AG Elections- Democrat Justin Nelson Launches Campaign for Texas Attorney General- Democrat Justin Nelson declared his candidacy for Texas AG seeking to unseat incumbent Republican AG Ken Paxton, who is running for...more

CFPB Director Richard Cordray Resigning

by Hinshaw & Culbertson LLP on

In news that is still breaking, the first and only Consumer Financial Protection Bureau director, Richard Cordray, has announced he will be resigning at the end of this month....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Fresh off news of decreased SEC enforcement in the past year and the outgoing FDIC chief’s concerns about weakening regs, we’ve got word that the OCC is dialing back its regulatory bent in an effort to return to its “natural...more

Director Cordray announces resignation plans to CFPB staff

by Ballard Spahr LLP on

According to widespread media reports, Director Cordray informed CFPB staff members today that he expects to resign as CFPB Director by the end of this month. ...more

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