Topic - Richard Cordray

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  • Richard Cordray, director of the Consumer Financial Protection Bureau, has been asked about the method to determine whether an auto creditor's portfolio shows "disparate impact" on minorities. (Associated Press)

    Consumer board's 'guidance' against discrimination angers car dealers, lawmakers

    Despite backing the board and its new chief, even Democrats are expressing concern over an early ruling from the Consumer Financial Protection Bureau warning auto dealers that offering to strike deals on car loan interest rates could be discriminatory.

  • President Obama (left) speaks as Richard Cordray, the newly confirmed director of the Consumer Financial Protection Bureau, looks on in the State Dining Room of the White House in Washington on Wednesday, July 17, 2013. The Senate voted on Tuesday to end a two-year Republican blockade that was preventing Mr. Cordray from winning confirmation. (AP Photo/Susan Walsh)

    Obama officially welcomes consumer advocate Richard Cordray after 2-year confirmation wait

    President Obama said Wednesday that the official swearing-in of Richard Cordray as director of the fledgling Consumer Financial Protection Bureau will guard against "a few bad apples in the financial sector" ripping off middle-class consumers.

  • Senate Majority Leader Harry Reid of Nevada (left) and Minority Leader Mitch McConnell of Kentucky are sparring on the eve of a session to change Senate rules to remove a 60-vote threshold for President Obama's nominations to win confirmation. Mr. Reid says the changes are minimal; Mr. McConnell says Mr. Reid would be "breaking the rules  in order to change the rules." (Associated Press)

    Senate 'nuclear option' on filibusters defused — for now

    The "nuclear option" has been defused — for now — after Republican senators said Tuesday they would drop their blockade of Richard Cordray to be the new head of a consumer protection bureau, ending for now what had appeared to be a major crisis over the filibuster and minority rights in the Senate.

  • Senate Majority Leader Harry Reid, flanked by Sen. Jeff Merkley (right) and Sen. Tom Udall, hails a Democratic victory after averting a political meltdown, clearing the way for confirmation of presidential nominees. (Associated Press)

    Senate Democrats win votes on four nominees in 'nuclear option' showdown

    Bowing to an ultimatum, Senate Republicans agreed Tuesday to drop objections to key Obama administration nominees, delivering a victory to Senate Democrats who said they will shelve — for now — their own plans to change the rules and curtail filibusters.

  • Mary Jo White, President Obama's pick to head the Securities and Exchange Commission, testifies on March 12, 2013, at her confirmation hearing in front of the U.S. Senate Banking, Housing and Urban Affairs Committee on Capitol Hill. (Andrew Harnik/The Washington Times)

    Mary Jo White confirmed as head of Securities and Exchange Commission

    The Senate on Monday unanimously confirmed President Obama's appointment of Mary Jo White to lead the Securities and Exchange Commission, even as Republicans continue to reject Richard Cordray, who was nominated at the same time to head another financial watchdog agency.

  • ** FILE ** Sen. Elizabeth Warren, D-Mass., listens to a witness at Senate Banking Committee hearing on anti-money laundering on Capitol Hill in Washington, Thursday, March 7, 2013. (AP Photo/Cliff Owen)

    Sen. Elizabeth Warren: U.S. success due to government regulation

    The government not only has a right to regulate the American people, but regulation is really the key to the country's success, Democratic Sen. Elizabeth Warren said on Thursday.

  • Richard Cordray and Mary Jo White are sworn in March 12, 2013, before testifying in front of the U.S. Senate Banking, Housing and Urban Affairs Committee on Capitol Hill for their confirmation hearings. Cordray and White are President Obama's picks to head the Consumer Financial Protection Bureau and the Securities and Exchange Commission, respectively. (Andrew Harnik/The Washington Times)

    GOP lawmakers grill consumer finance chief

    Senate Republicans used the confirmation hearing for the head of President Obama's new Consumer Financial Protection Board to air their continued unhappiness with the agency's funding and what they said was its lack of accountability.

  • Illustration by Greg Groesch for The Washington Times

    JOHANNS: Obama's recess appointments expand his powers

    On Jan. 20, Barack Obama took the presidential Oath of Office, swearing once again to uphold and defend the Constitution.

  • President Obama announces in the State Dining Room of the White House in Washington on Thursday, Jan. 24, 2013, that he will nominate Mary Joe White (right) to lead the Securities and Exchange Commission (SEC) and will renominate Richard Cordray (left) to head the Consumer Financial Protection Bureau, a position he has held for the past year under a recess appointment. (AP Photo/Carolyn Kaster)

    Obama cites consumer protection, urges Senate to OK two regulatory nominees

    President Obama on Saturday called for the Senate to move quickly and approve the two consumer-minded nominees he wants to help oversee two key federal regulatory agencies in his second term.

  • President Obama looks to Mary Jo White in the State Dining Room of the White House in Washington on Thursday, Jan. 24, 2013, as he announces he will nominate her to lead the Securities and Exchange Commission (SEC). (AP Photo/Carolyn Kaster)

    Obama picks ex-prosecutor to head SEC

    Bracing for tougher enforcement of rules governing Wall Street in President Obama's second term, several business groups warily welcomed the president's nomination Thursday of Mary Jo White, a former U.S. attorney for Manhattan who made her name prosecuting terrorists, to head the Securities and Exchange Commission.

  • Richard Cordray, director of the Consumer Financial Protection Bureau, announced "the true essence of responsible lending." (Associated Press)

    Mortgage lender rules released

    In the wake of the national housing collapse that helped bring on the Great Recession, federal regulators for the first time are laying out rules aimed at ensuring that borrowers can afford to pay their mortgages.

  • ** FILE ** In this Thursday, Dec. 20, 2012, photo, a sign hangs in North Andover, Mass., where an existing home is for sale. Average U.S. rates on fixed mortgages moved closer to their record lows this week, a trend that has made home buying more affordable and helped sustain a housing recovery. (AP Photo/Elise Amendola)

    New federal rules aim to curb risky mortgages

    Federal regulators for the first time are laying out rules aimed at ensuring that mortgage borrowers can afford to repay the loans they take out.

  • Illustration Dodd-Frank Grim Reaper by Linas Garsys for The Washington Times

    EDITORIAL: Overturning Dodd-Frank

    Ordinarily, political disputes ought to be settled by lawmakers accountable to the public, not unelected judges. It's bad form for a political party to run to the judicial branch simply because it can't win on an issue fair-and-square in the legislature.

  • Illustration: Consumer Financial Protection Bureau

    GROVER: CFPB's unchecked power

    The Consumer Financial Protection Bureau is hunting for scalps before the November election to reinforce the narrative that President Obama is protecting consumers from a rapacious and untrustworthy financial services industry.

  • **FILE** Richard Cordray, director of the Consumer Financial Protection Bureau. (Associated Press)

    Congressmen question work of new consumer advocate

    Congressmen on Capitol Hill questioned President Obama's top consumer-protection advocate, Richard Cordray, about his agency's compliance with federal regulations designed to protect America's small businesses.

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Quotations
  • "We will continue to be vigilant in pursuit of anyone who deceives or mistreats consumers," CFPB Director Richard Cordray said in a conference call with reporters. "We intend to continue cleaning up this market as necessary to ensure that consumers are treated fairly."

    BofA paying $772M over selling credit card extras →

  • "We are concerned that too many borrowers slide into the debt traps that payday loans can become," CFPB Director Richard Cordray said in a statement.

    Georgia editorial roundup →

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