The head of the Consumer Financial Protection Bureau formally called on Congress to sharply reduce his agency’s authority. Among the suggestions he delivered Monday: Any major new rules the bureau makes should be subject to lawmakers’ approval. “The bureau is far too powerful, with previous little oversight of its activities,” Mick Mulvaney — who has […]
Court House Doors Will Reopen for Millions of U.S. Consumers…
Yesterday, Richard Cordray, the Director of the Consumer Financial Protection Bureau (CFPB) that was created in 2010 under the Dodd-Frank financial reform legislation, did what few Americans thought he would dare to do: he stood up to threats of being fired; threats of backlash from Wall Street titans; threats of having his agency’s budget gutted; […]