Predictions Abound: Cordray Stays; House Takes Up Dodd-Frank in the Summer or Later; Will Changes to the CFPB Go the Way of Trumpcare?

by Jeff Sovern

First, Cordray.  Here's what Politico's Morning Money reported:

CORDRAY IS … STILL THERE – Compass Point's Isaac Boltansky and Lukas Davaz: "With a decision in the PHH case review unlikely until next year, and the path for a legislative compromise on the Bureau's governance structure becoming hazier by the day, all indications are that Director Cordray is likely to retain his seat at least through the year and possibly until it comes to term in July 2018.

"President Trump could conceivably attempt to dismiss Director Cordray, but our sense is that the White House would prefer avoiding the associated political and procedural fallout"

Now the House.  WSJ has a story about an interview with Rep. Patrick McHenry (R., N.C.), vice chairman of the House Financial Services Committee and Republicans’ chief deputy whip.  McHenry predicts that the House won't get to Dodd-Frank until the summer at the earliest. Here's a quote:

When Republicans do move toward voting on a financial regulatory bill, there is “no question” the House can “pass a major change to financial services law,” Mr. McHenry said. “What the Senate can do from there is an open question,” he added, nodding to the fact major Dodd-Frank changes might face opposition from Senate Democrats. 

* * *

Other potential changes * * * include[] changes to the Consumer Financial Protection Bureau’s structure, which he described as a “moving target” because Republicans have different ideas for how they want to change the agency.

If democrats hang tough on the CFPB, I wonder if bills to change it will go the way of Trumpcare.

Leave a Reply

Your email address will not be published. Required fields are marked *