Cordray defended the role of the CFPB in his prepared remarks, given the current debate surrounding the Bureau. In his opening statement, Financial Services Committee Charmin Jeb Hensarling (R-Texas) expressed surprise at Cordray’s appearance at the hearing, citing the president’s ability to remove the Director at will and reports that Cordray was to pursue an Ohio gubernatorial bid.
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CFPB Director Richard Cordray will go before the Housing Financial Services Committee to address the Bureau’s two most recent semiannual reports. In his prepared remarks, Cordray is prepared to discuss credit reporting, financial incentives, and debt collection, among other things. He will also defend the CFPB’s purpose amidst the political debate currently encircling it.
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On Tuesday, the Subcommittee on Oversight and Investigations of the Committee on Financial Regulations held a hearing on the constitutionality of the Consumer Financial Protection Bureau. The hearing was aptly titled “The CFPB’s Unconstitutional Design.” Subcommittee Chairwoman Ann Wagner’s opening ...
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The U.S. House of Representatives Committee on Financial Services announced late Monday that it would hold a hearing on proposed legislation aimed at reforming the Federal Reserve.
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