From HuffPo. Excerpt: Trump met with former Rep. Randy Neugebauer (R-Texas) on Wednesday and is considering Neugebauer to run the CFPB, Trump spokesman Sean Spicer confirmed on a Thursday call with reporters. A source close to the transition team told HuffPost that Neugebauer has yet to be offered the job, but that no other candidates […]
Category Archives: Consumer Financial Protection Bureau
Here. Excerpt: House Financial Services Committee Chairman Jeb Hensarling, a Dallas Republican, has griped that the agency is “the single most powerful and least accountable federal agency in all of Washington.” He has pushed for the agency to be led by a bipartisan commission, rather than a single director. Neugebauer has endorsed that proposition, filing […]
In November, we linked to Aditya Bamzai's blog post at Notice and Comment arguing that President-Elect Trump could fire CFPB Director Cordray on the first day of his presidency. Brianne Gorod, Chief Counsel at the Constitutional Accountability Center, has replied on Notice and Comment in a post titled Why the CFPB Director Shouldn’t Be Going Anywhere.
Here. Quoting from the Bureau's release: Consumer Financial Protection Bureau (CFPB) report released today found that over one-in-four consumers contacted by debt collectors felt threatened. The report was drawn from the first-ever national survey of consumer experiences with debt collectors. Over 40 percent of consumers who said they were approached about a debt in collection […]
by Jeff Sovern Senator Sasse joined with Senator Lee in a letter to President-Elect Trump; The Hill has the story here. The letter doesn't mention that the Bureau has secured nearly $12 billion in relief for more than 27 million consumers, among other significant accomplishments.
by Jeff Sovern As earlier reported by the CFPB Monitor and elsewhere, President-Elect Trump has named three new members to the CFPB "Landing Team." One of the members, Kyle Hauptman, is a Senior Development Manager at the American Enterprise Institute. The AEI has on its website some articles that may give clues as to Mr. […]
by Jeff Sovern In a characteristically terrific post at Credit Slips, Georgetown's Adam Levitin explains the real reasons for calls to fire CFPB Director Cordray. A worthy companion to Adam's recent op-ed at American Banker (free content), What the CFPB 'Commission' Debate Is Really About. Both worth a read.
Pamela Foohey of Indiana has written Calling on the CFPB for Help: Telling Stories and Consumer Protection, 80 Law & Contemporary Problems (Forthcoming). Here is the abstract: Since it began operating in 2011, the Consumer Financial Protection Bureau (CFPB) has handled more than a million complaints regarding consumer financial product and services. Beginning in June 2015, […]
Report here. Here's what it says: POLITICO's Lorraine Woellert: "Richard Cordray 'has no plans' to leave the top job at the CFPB, the agency said today. 'Director Cordray was confirmed by a bipartisan group of 66 senators to serve a term until July 2018 and has no plans to step down,' CFPB Communications Director Jen […]