Tag Archives: CFPB reform

ABA, Trade Groups Support Proposed CFPB Structural Change

In a joint financial trade association letter to House and Senate Appropriations Committee leadership today, ABA supported the inclusion of language in the fiscal year 2018 spending bill that would transition the Consumer Financial Protection Bureau to a bipartisan, five-member commission.

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Democrats Defend CFPB’s Structure in Amicus Brief

A group of 39 current and former Democratic lawmakers submitted an amicus brief today in the case of PHH Mortgage v. Consumer Financial Protection Bureau, a closely watched case over whether the bureau’s leadership structure -- a single powerful director who cannot be removed at will by the president -- is constitutional.

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Reports: Trump Signals Intention to Remove Cordray

A spokesman for President-Elect Donald Trump said yesterday that Trump has interviewed former Rep. Randy Neugebauer (R-Texas) for the post of Consumer Financial Protection Bureau director -- indicating that Trump may be considering removing current director Richard Cordray from his post before his term expires in 2018.

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GOP Senators Introduce CFPB Commission Bill

Sens. Deb Fischer (R-Neb.), Ron Johnson (R-Wis.) and John Barrasso (R-Wyo.) on Wednesday introduced a bill (S. 105) that would replace the Consumer Financial Protection Bureau’s single director with a bipartisan, five-member board.

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