Category Archives: Consumer Financial Protection Bureau

So speculates Joseph Rubin in the American Banker here (free content).  Here is the paragraph with the speculation: The Washington rumor mill has already focused on potential CFPB successors preferred by the Trump administration, such as Rep. Randy Neugebauer, R-Texas, and George Mason University professor Todd Zywicki. Both are critics of the CFPB, and would likely […]

Here, in The Hill. Beavers is director of diversity and inclusion at The Greenlining Institute.  Excerpt: Some critics—not previously known as leaders on diversity or civil rights—claim that the CFPB has become “a breeding ground” for discrimination that devalues employees of color and women. As an advocate for diversity—and specifically as an advocate for communities of color—I have […]

Here.  Excerpt: The basic story is that if it's possible to make lots of money by using deceptive contracts to ripoff consumers, then many very talented and hard-working people will spend their time developing schemes to ripoff consumers. Instead of doing things that contribute to consumers' well-being (e.g. developing better products), these people will be […]

by Jeff Sovern Here, in Morning Money.  Excerpt: THE POLITICS of firing Cordray would be tough for Trump. He could argue that the CFPB is an unaccountable agency lead by a too-powerful single director. Banking groups, especially those representing smaller and midsize institutions, would be would be thrilled. But the CFPB polls pretty highly and […]

Here. Excerpt: Cordray, who has helmed the CFPB as its first and only director, said Tuesday that he has no intention of stepping down early, despite pressure from Republicans eager to overhaul the 5-year-old agency. “It really shouldn’t change the job at all,” said Cordray of Trump assuming power. “We have an independent mandate to […]

Here.  The motion to intervene in the PHH case is here.  

by Jeff Sovern Here, in the American Banker (free content). Cuccinellis is general counsel to the FreedomWorks Regulatory Action Center, and former AG for Virginia. Excerpt: Rather than tinkering with this regulatory monstrosity, let’s pursue a simpler course: simply eliminate the standalone agency. Most of the regulatory powers that the CFPB now wields were previously […]

So reports Law360's Evan Weinberger on Twitter here. 

Here. Excerpt: Schumer said Trump’s decision to “govern as a hard-right Republican” and possibly replace Cordray breaks his campaign promise to “drain the swamp” by fighting corporate interests on behalf of middle-class Americans. * * * The CFPB is currently finalizing rules on arbitration clauses, payday lending and debt collecting. Warren said the push to […]