Political Disagreements over the CFPB Dominate Cordray’s Hearing and Delay Confirmation

by Troutman Sanders CFPB Team On September 6, 2011, Richard Cordray, former Ohio Attorney General and current nominee to become the first Director of the Consumer Financial Protection Bureau (CFPB), appeared before the Senate Banking Committee for a hearing on his nomination. However, even before Mr...

Dodd-Frank: President Obama Installs Richard Cordray as Director of the CFPB

On January 4, 2012, President Obama installed Richard Cordray as Director of the new Consumer Financial Protection Bureau Financial Protection ("CFPB"). Mr. Cordray had served as Attorney General for the State of Ohio and most recently was in charge of the enforcement division of the Treasury...

Foley & Lardner: The Consumer Financial Protection Bureau Outlines Its Priorities Under Director Cordray

Under the leadership of its newly appointed first director, Richard Cordray, the Consumer Financial Protection Bureau (Bureau) has laid out its top three priorities: (1) nonbank supervision; (2) protection against unfair, deceptive, or abusive acts or practices (UDAAP), and (3) disclosures. Nonbank...

Reid Puts Off Cordray Nomination Vote Until Late Summer--Is He Arming The Nuclear Option?

by Jeffrey E. Jamison As the CFPB-Lawblog predicted, the vote on Richard Cordray's nomination as director of the Consumer Financial Protection Bureau has been delayed. Senate Majority Leader Harry Reid had announced that the vote would take place during the week of May 20, 2013, but is now...