He has John McCain to thank.
[credit provider=”Paramount”] The Consumer Financial Protection Bureau is taking steps that would give it power over some of the country’s biggest nonbank student lenders. These are the lenders who are contracted by banks and the government to manage federal and private student loans.
[credit provider=”John Moore/Getty Images” url=”http://www.gettyimages.com/detail/news-photo/brandie-barbiere-tries-to-explain-to-her-husband-dan-news-photo/128281025″] Could a makeover of mortgage disclosure forms be the solution to consumer confusion and lender frustration? President Obama’s year-old Consumer Financial Protection Bureau (CFPB) thinks so, and it’s devised a simple replacement for a complex document that has frustrated and baffled home buyers and lenders […]
[credit provider=”Flickr / Available_Light ” url=”http://www.flickr.com/photos/available-light/1372534662/”] The federal government’s crackdown on abusive financial practices that take advantage of the working poor is ramping up even before the new cop on the beat – the Consumer Financial Protection Bureau – steps into the fray.The Federal Trade Commission on Monday filed suit against […]
Got a burning question about payday lenders or need help parsing through this month’s mortgage statement? As of yesterday, the Consumer Financial Protection Bureau is now taking your questions.
[credit provider=”Robert Johnson — Business Insider” url=”http://www.businessinsider.com.au/author/robert-johnson”] The Alternative Banking group of Occupy Wall Street is looking to Richard Cordray, director of Consumer Financial Protection Bureau, to revamp our credit scoring system. In a letter sent last week, the group made 10 suggestions for what the CFPB should do as it takes over rule-making […]
Republicans threatened to boycott CFPB head Richard Cordray’s Senate testimony, but as it turns out, attendance at today’s meeting was actually pretty healthy.
[credit provider=”motleye” url=”http://www.flickr.com/photos/motleye/”] Ever since Richard Cordray slipped behind the wheel of the previously headless Consumer Financial Protection Bureau, the watchdog’s been gunning for one sector in particular: Payday lenders. At a jam-packed press conference in Birmingham, Ala. on Friday, Cordray took to the mic to blast emergency lenders and other […]
It would be mild to say that Wall Street and the financial industry have looked at Richard Cordray and the Consumer Financial Protection Bureau with suspicion.
[credit provider=”By dancingnomad3 on Flickr” url=”http://www.flickr.com/photos/dancingnomad3/4286281762/”] Just days after Richard Cordray slipped into the director’s chair, the agency said it was ready to start cracking down on those much-maligned nonbank mortgage lenders. Now we know exactly how they plan to do that.
President Obama’s recess appointment of Richard Cordray to the Consumer Finance Protection Bureau last week drew unsurprising heat from Republicans.
Consumer Financial Protection Bureau director Richard Cordray just did a quick spot on CNBC, and the anchors threw him a few hardballs.
[credit provider=”motleye” url=”http://www.flickr.com/photos/motleye/”] Less than a day into his new position as director of the Consumer Financial Protection Bureau, Richard Cordray announced a new arm of the agency that will police nonbanking entities. A nonbank is pretty much any kind of lender or consumer financial product service that doesn’t have a […]
Yesterday, new Consumer Financial Protection Bureau chief Richard Cordray gave a speech at the Brookings Institute in Washington, D.C.
[credit provider=”Flickr/ProgressOhio” url=”http://www.flickr.com/photos/progressohio/4363571704/”] Barely a few hours after the White House confirmed that President Obama would use a controversial recess appointment to install former Ohio Attorney General Richard Cordray as the director of the Consumer Financial Protection Bureau,both Obama and Cordray were sitting at the dining room table of Endia […]
Here’s what you need to know about Consumer Financial Protection Bureau director Richard Cordray’s speech at the Brookings Institute today:
This looks like it could be the new Republican argument against Cordray. Because the CFPB comes from Dodd-Frank, and Dodd-Frank says the CFPC can’t commence operations until after its head is confirmed by the Senate, Cordray is CFPB head in name only until Senate confirmation.
Long before he was being hailed by President Obama as the right man to protect American consumers from the predatory behaviour of financial institutions, Richard Cordray was running for attorney general in Ohio.
Washington worked itself into a tizzy this morning over Senate Republicans’ unsurprising decision to block Richard Cordray‘s nomination as the first director of the Consumer Financial Protection Bureau.
After months of pushback from Republicans in Congress, President Obama has finally decided to go over their heads and appoint former Ohio Attorney General Richard Cordray head of the Consumer Financial Protection Bureau without them.
[credit provider=”Flickr ProgressOhio” url=”http://www.flickr.com/photos/progressohio/4363571978/in/photostream/”] The Senate was unable to reach the 60-vote threshold to override a Republican filibuster on the nomination of Richard Cordray to be the first director of the Consumer Financial Protection Bureau in a 53 to 45 vote Thursday morning, with one Senator voting ‘present.’The White House […]
[credit provider=”AP Photo/Jim Cole”] Last week President Obama bade a reluctant farewell to Donald M. Berwick, his frustrated centres for Medicare and Medicaid Services Administrator who departed government after 16 months because he couldn’t win Senate confirmation. The issue? Republicans didn’t like his favourable views on the president’s health care reforms […]
[credit provider=”Flickr ProgressOhio” url=”http://www.flickr.com/photos/progressohio/4363571978/in/photostream/”] The Senate is set to vote on Richard Cordray’s nomination to head the controversial Consumer Financial Protection Bureau on Thursday, and the White House is pulling out all the stops to get him confirmed — including reaching out to banks opposed to the watchdog agency.The CFPB […]
The fledgling Consumer Financial Protection Bureau may have rung in its 100th day in business by defending its progress before Congress last week, but the hotly contested organisation is chugging right along to push forward new consumer-driven initiatives.
[credit provider=”flickr / JRockefellerIV” url=”http://www.flickr.com/photos/jrockefelleriv/5740364149/”] Sen. Mark Pryor (D-AR) just announced that he is putting all nominations for the Treasury Department on hold over a dispute with FEMA in Arkansas.We’re not sure of the details yet, but Pryor said “I’m going to hold all of their nominees until we sit down […]
Democrats are ramping up their criticism of Republicans by tying them to Wall Street, launching a “coordinated attack” combining national and state party resources, as well as interest groups.
There’s one main reason Richard Cordray, President Obama’s nominee to head the Consumer Financial Protection Bureau, may actually win confirmation by the Senate: Few in Washington actually know who he is.
[credit provider=”Wikipedia” url=”http://en.wikipedia.org/wiki/File:Richard_Cordray.jpg”] President Obama will nominate former Ohio Attorney General and Democrat Richard Cordray to head the Consumer Financial Protection Bureau, Reuters reported.This follows months of speculation that Elizabeth Warren, who spearheaded the establishment of the new agency, might be named its chief.