CFPB Director Richard Cordray faced intense criticism from the committee's Republicans, particularly Chairman Jeb Hensarling (R-Texas), who said that Congress has made the Director a “dictator” and given him power that is “amazing, frightening, and tragic.”
Read More »The Week Ahead: CFPB Director Cordray to Face Grilling from Congress
On Wednesday, March 16, Consumer Financial Protection Bureau Director Richard Cordray will testify before the House Financial Services Committee about the effects of the Bureau's activities on consumers.
Read More »CFPB Dispels Myths Surrounding New Servicing Rules and QM Rule
In an address at the National Credit Union Association on Tuesday, CFPB Director Richard Cordray answered criticisms surrounding the Bureau's regulatory changes in the mortgage industry.
Read More »Shocker: 9 in 10 Loans Don’t Pass TRID Requirements
Consumer Financial Protection Bureau Director Richard Cordray recently passed off the widespread anxiety over TRID compliance as being no big deal and compared the rule to the over-hyped panic over Y2K. But did he speak too soon?
Read More »CFPB Will Take a ‘Diagnostic’ Approach to Those Trying to Comply With TRID
Rep. Brad Sherman (D-California) questioned Cordray on the CFPB's much anticipated TILA-RESPA Integrated Disclosure (TRID) rule, which is scheduled to go into effect on Saturday, October 3, and has left those in the mortgage industry scrambling to be compliant in time with that date despite a two-month postponement from the rule's original effective date of August 1.
Read More »CFPB’s Perceived Overreach, Lack of Accountability Discussed in Congressional Hearing
Two major subjects discussed during Tuesday's hearing entitled "The Semi-Annual Report of the Consumer Financial Protection Bureau" before the House Committee on Financial Services were the Republicans' perceived lack of accountability on the part of the Bureau as well as whether or not the Bureau's efforts have been overreaching.
Read More »CFPB Director Tells Senate His Bureau Has Made ‘Considerable Progress’
In testifying before the Senate Committee on Banking, Housing, and Urban Affairs earlier this week, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray said the bureau had made "considerable progress" toward its goal of protecting consumers since the passage of the Dodd-Frank Reform Act in 2010.
Read More »Cordray Responds to Allegations of Discrimination at the CFPB
Following allegations of racial and gender discrimination at the Consumer Financial Protection Bureau, the bureau’s director, Richard Cordray spoke before the House Financial Services Committee Wednesday.
Read More »Cordray to Testify Regarding Allegations of Discrimination at CFPB
As part of its continuing effort to address nagging allegations of discrimination and subsequent backlash against whistleblowers at the Consumer Financial Protection Bureau (CFPB), the House Oversight and Investigations Subcommittee will on Wednesday hear testimony from CFPB director Richard Cordray. ...
Read More »CFPB Director Fields Questions from House Committee
A week after appearing before the Senate Banking Committee, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray traveled back up the hill again to review the bureau's semi-annual report and take questions from the House Financial Services Committee. At the hearing, committee members asked Cordray to address a number of issues surrounding the embattled agency, including accountability concerns and allegations of discrimination.
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