Mar 23, 2012
Richard
Cordray talked about the status of the new Consumer Financial Protection
Bureau (CFPB), obstacles it faces, and the direction that he wants to
take the new agency.
The CPFB was created by the Dodd-Frank 2010 financial regulations law and has been in operation since late July 2011. Its missions include watching for mortgage-servicing abuses and credit-card abuses by banks. President Obama named Mr. Cordray director with a recess appointment on January 4 after Republicans stalled on holding a confirmation hearing for him.
The CPFB was created by the Dodd-Frank 2010 financial regulations law and has been in operation since late July 2011. Its missions include watching for mortgage-servicing abuses and credit-card abuses by banks. President Obama named Mr. Cordray director with a recess appointment on January 4 after Republicans stalled on holding a confirmation hearing for him.
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