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Keyword: cordray

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  • Emails Reveal Cordray’s Plot to Appoint Own Successor

    02/02/2018 12:26:25 PM PST · by Cheerio · 10 replies
    The Washington Free Beacon ^ | February 1, 2018 | Elizabeth Harrington
    Left-wing websites led former director's attempt to subvert WH authority Newly released emails reveal the machinations of former director of the Consumer Financial Protection Bureau Richard Cordray to appoint his own successor. The failed attempt to install Leandra English as acting director of the CFPB last year began after Cordray found the idea in two left-wing websites, which argued it was "illegal" for the president to appoint the director of an executive branch agency. Cause of Action Institute, a nonprofit oversight group, obtained internal emails through a Freedom of Information Act request between Cordray, English, and other CFPB officials during...
  • CFPB deputy director sues Trump to block Mulvaney as interim leader

    11/26/2017 7:40:08 PM PST · by E. Pluribus Unum · 71 replies
    The Hill ^ | 11/26/2017 | Sylvan Lane
    Replay Mute Loaded: 0%Progress: 0% -0:00 Share Fullscreen The deputy director of the Consumer Financial Protection Bureau (CFPB) on Sunday night sued President Trump in order to block Office of Management and Budget Director Mick Mulvaney from taking over as acting director of the agency. Leandra English, who was tapped by former Director Richard Cordray to be the acting director, filed a complaint in the United States District Court for the District of Columbia against Trump and Mulvaney, whom the president nominated to be CFPB's interim leader. The office of the CFPB’s head council is expected to challenge her suit,...
  • CFPB: Trump targets a monster

    11/26/2017 12:10:28 PM PST · by bobsunshine · 13 replies
    American Thinker ^ | November 26, 2017 | Monica Showalter
    President Trump has slammed the Consumer Financial Protection Bureau as a "total disaster" and rightly objects to a second leftist taking the place of outgoing leftwing director Richard Cordray. The battle is just the tip of the iceberg surrounding this federal agency that shouldn't even be there in the first place. What Trump is battling is an unaccountable agency run by the Democrats and for the Democrats with the aim of funding more Democrats. It's a shakedown racket targeting banks and other moneybags businesses based solely on the size of their assets to harvest from fines. It was never about...
  • Trump picks fight with CFPB, calls agency a ‘total disaster’

    11/25/2017 4:17:07 PM PST · by Oshkalaboomboom · 43 replies
    NY Post ^ | November 25, 2017 | Mary Kay Linge
    President Trump is picking another fight with the Washington swamp by naming his own man as temporary boss of a federal agency conservatives hate. “The Consumer Financial Protection Bureau, or CFPB, has been a total disaster as run by the previous Administrations pick,” he tweeted Saturday. “Financial Institutions have been devastated and unable to properly serve the public. We will bring it back to life!” the tweet said. Leadership of the bureau — the brainchild of liberal Massachusetts Sen. Elizabeth Warren — was put in play Friday by the resignation of director Richard Cordray. Before he left, Cordray named his...
  • Resignation of CFPB head gives Trump opportunity to erase Elizabeth Warren’s legacy

    11/15/2017 6:51:10 PM PST · by markomalley · 11 replies
    Legal Insurrection ^ | 11/15/17 | Kemberlee Kaye
    Richard Cordray, an Obama appointee and head of the Consumer Financial Protection Bureau (CFPB) announced to staff in an email Wednesday his plans to resign. While he’s yet to confirm his plans, there’s speculation Cordray will return home to run for Ohio’s governorship. The CFPB functions as, “a regulator set up in response to the 2008 financial crisis to police mortgages, credit cards and other financial products,” and was the brainchild of Massachusetts Democrat Senator Elizabeth Warren. Unlike other agencies, due to the unique circumstanced through which the CFPB was created (was part of Dodd-Frank in 2010), Cordray answered to...
  • These Obama appointees could cause another housing collapse

    10/14/2017 8:56:32 PM PDT · by Oshkalaboomboom · 15 replies
    NY Post ^ | October 14, 2017 | Paul Sperry
    A pair of top Obama-appointed bank regulators still serving in the Trump administration could spark another mortgage meltdown by lowering credit standards and encouraging risky lending practices. Democrat Mel Watt, who is serving a special five-year term as head of the Federal Housing Finance Agency, is pushing the mortgage-lending giants he regulates — Fannie Mae and Freddie Mac — to offer home loans to deadbeat borrowers with shaky credit, setting up conditions for another housing-market crash, industry officials warn. Meanwhile, the other Obama holdover — liberal Democrat Richard Cordray, who continues to head the Consumer Financial Protection Bureau through 2018...
  • Why Trump Must Fire Obama Holdover Cordray

    09/28/2017 12:53:46 PM PDT · by Twotone · 11 replies
    American Spectator ^ | September 27, 2017 | John Berlau
    In the private sector and during his short time as president, Donald J. Trump has never been shy about firing subordinates. Yet some powerful Obama holdovers seem to have a puzzling staying power. The recent decision of the Justice Department not to prosecute Lois Lerner for her alleged role in the Internal Revenue Service’s targeting of conservative non-profits brought criticism and also highlighted the fact that Obama’s appointee John Koskinen is still at the IRS’s helm. Even more frustrating is that Trump has yet to fire Consumer Financial Protection Bureau director Richard Cordray, despite Cordray’s actions that go directly against...
  • U.S. Ruled by Executive, Legislative, Judicial Branches… and Richard Cordray

    06/23/2017 10:14:57 AM PDT · by Cheerio · 7 replies
    The American Spectator ^ | June 22, 2017 | Jon Cassidy
    A despotism in our midst no one can do anything about, evidently. Could Congress create a fourth branch of government? Maybe break off a piece of what the executive branch handles now — commerce, say, or agriculture, or maybe even defense — and create a new office supported by its own dedicated tax stream and the authority to levy penalties? The president could still appoint this officer — I think prince-bishop has a nice ring to it — but wouldn’t be able to remove His Excellency absent extraordinary factual circumstances. Maybe we could expect the prince-bishop to decree exile for...
  • Top 10 Holdover Obama Bureaucrats President Trump Can Fire or Remove Today

    02/19/2017 9:53:13 AM PST · by kevcol · 32 replies
    Breitbart ^ | February 18, 2017 | Michael Patrick Leahy
    Here is a list of the top ten holdover Obama loyalist bureaucrats President Trump can either fire immediately or remove from their current positions (civil service). 1) John Koskinen, Commissioner of the Internal Revenue Service 2) Richard Cordray, Consumer Financial Protection Bureau Director 3) John Lansing, CEO of Broadcasting Board of Governors 4) Amanda Bennett, Voice of America Director 5) Kenneth Tota, Acting Director of the Office of Refugee Resettlement, Department of Health and Human Services (civil service) 6)Anastasia Brown, Acting Deputy Director for Refugee Programs, Office of Refugee Resettlement, Department of Health and Human Services (civil service) . ....
  • Dems Debate Striking Deal with Republicans on Reforming Consumer Financial Protection Bureau

    04/01/2017 9:57:36 AM PDT · by ColdOne · 10 replies
    breitbart.com ^ | 3/30/17 | Sean Moran
    Republicans on the House Financial Services Committee hope to markup legislation to reform Dodd-Frank in April. Democrats will have a month to agree upon a strategy to defend the CFPB and to decide to what to degree they wish to work with Republicans to keep the CFPB alive. Democrats believe they can strike a deal with Republicans to transform the CFPB into a bipartisan commission from a single directorship. Congressman Brad Sherman (D-CA) explained that the alternative would give President Trump sole control over the CFPB when current director Richard Cordray’s term expires next year.
  • Trump takes on CFPB, a regulatory agency set up by Elizabeth Warren so no Republican could ever work

    02/06/2017 8:55:43 AM PST · by Sean_Anthony · 3 replies
    Canada Free Press ^ | 02/06/17 | Dan Calabrese
    The tyranny of the administrative state. The Consumer Financial Protection Bureau is one of those things that sounds purely like the government helping out the sainted little guy against threats from the powerful and the predatory. And there’s a lot of danger in that. The CFPB was created by Democrats as part of the passage of Dodd-Frank in 2010, and Obama appointed left-wing stalwart Richard Cordray to wield the agency’s considerable power. Now Trump believes, correctly, that it’s time to rein Cordray and the CFPB in, which the political class sees as a case of evil Republicans undercutting the rights...
  • CFPB's Inconvenient Truth Revealed By Complaints Database

    08/22/2015 12:14:59 PM PDT · by Kaslin · 25 replies
    Townhall.com ^ | August 22, 2015 | Dan Horowitz
    The Consumer Financial Protection Bureau (CFPB), a federal agency designed to purposely avoid oversight from Congress, with much fanfare recently introduced a public database cataloging all of the complaints it has received from consumers. “Consumer complaints are the CFPB’s compass and play a central role in everything we do. They help us identify and prioritize problems for potential action,” CFPB Director Richard Cordray said in a press release announcing the new public database. The only problem? The database shows complaints about “payday lenders,” which are currently in Cordray's cross hairs, composed less than one percent of all complaints, far outnumbered...
  • The Consumer Financial Protection Bureau Isn't Protecting Consumers!

    08/15/2015 4:59:49 AM PDT · by Kaslin · 12 replies
    Townhall.com ^ | August 15, 2015 | Ken Blackwell
    When a government agency called the Consumer Financial Protection Bureau (CFPB) is created by Congress, one would expect that a few consumers could actually receive protection, but that hasn’t been the case with this agency’s track record of mismanagement, inefficiency and waste. The CFPB has been operating for four years now and if it were a sports team, its coach, Richard Cordray, would certainly be looking for work. CFPB was created as part of a Washington law known as “Dodd-Frank” – named for sponsors former Sen. Christopher Dodd and former Rep. Barney Frank. When CFPB director Cordray announced the laudable...
  • Why Is Obama Stockpiling Your Personal Financial Records?

    06/05/2014 4:35:58 PM PDT · by jazusamo · 52 replies
    Investors.com ^ | June 5, 2014 | IBD Editorial
    Diversity Police: Republicans are scratching their heads over the Obama regime's privacy-invading "National Mortgage Database Project." What's it for? That's easy: redistribution of wealth. In an unprecedented federal intrusion, the president's most radical financial regulators — Mel Watt of the Federal Housing Finance Agency and Richard Cordray of the Consumer Financial Protection Bureau — are creating a massive discrimination database on as many as 230 million Americans. It will encompass a mortgage holder's entire credit history — including credit scores and account balances — and all credit lines, from credit cards to student and car loans. "Why are we collecting...
  • New federal database will track Americans' credit ratings, other financial information

    05/30/2014 5:48:55 AM PDT · by Chickensoup · 60 replies
    Washington Examiner ^ | 5/30/2014 | Richard Pollock
    As many as 227 million Americans may be compelled to disclose intimate details of their families and financial lives -- including their Social Security numbers -- in a new national database being assembled by two federal agencies. The Federal Housing Finance Agency and the Consumer Financial Protection Bureau posted an April 16 Federal Register notice of an expansion of their joint National Mortgage Database Program to include personally identifiable information that reveals actual users, a reversal of previously stated policy. Sign Up for the Watchdog newsletter! FHFA will manage the database and share it with CFPB. A CFPB internal planning...
  • At Last, Congress Checks Obama's Rogue Consumer Bureau

    05/20/2014 4:30:18 PM PDT · by jazusamo · 3 replies
    Investors.com ^ | May 20, 2014 | IBD Editorial
    Oversight: Congress and some others in the media finally see the urgency in reining in Obama's rogue, out-of-control, unaccountable and secretive Consumer Financial Protection Bureau. This is something we have urged since its inception. In 2010, the Dodd-Frank Act gave birth to what we have argued is the single most powerful and least accountable agency in Washington. CFPB has the power to police virtually every financial transaction in the economy. Yet it holds its meetings in secret, has no inspector general and is funded outside the normal congressional budget process. On Wednesday, the House Financial Services Committee will take up...
  • Subpoena CFPB's Chief Over Secret Auto Data

    04/07/2014 5:15:38 PM PDT · by jazusamo · 6 replies
    Investors.com ^ | April 7, 2014 | IBD Editorial
    Power Struggle: CFPB Director Richard Cordray has snubbed yet another congressional request to disclose information about the shady methods he's using to investigate auto lenders for discrimination. Early last month, House Financial Services Committee Chairman Jeb Hensarling formally asked Cordray to explain how it is he can sue Ally Bank and other car lenders for policies that allegedly have a "disparate impact" on minorities when the industry doesn't even ID borrowers by race and investigators would have to guess their minority status. Then Hensarling pressed him for the metric he's using to determine a "statistically significant disparity" in loan pricing...
  • Washington & Wall Street: Hensarling Charges CFPB with Lack of Transparency

    03/25/2014 6:44:52 AM PDT · by george76 · 5 replies
    Breitbart ^ | 19 Mar 2014 | Christopher Whalen
    The liberal dictatorship of Richard Cordray at the Consumer Finance Protection Bureau (CFPB) came under fire this week when the head of the House Financial Services Committee (HFSC) called for the agency to open up its four advisory council meetings to the public and press. “Instead of operating behind closed doors, it’s time for the CFPB to live up to its oft-stated commitment to transparency and openness ... Wielding the power of the Dodd-Frank law, the CFPB has become an instrument for liberal tyranny focused against banks, mortgage companies, realtors, and other consumer credit professionals. The agency has been holding...
  • Financial Repression From The Obama Administration: How Savers May Be Forced To Buy Federal Debt

    12/23/2013 7:19:46 PM PST · by bkopto · 65 replies
    Forbes ^ | 12/23/2013 | William Tucker
    Some experts are concerned that the Obama Administration is poised to begin forcing Americans to stock their retirement accounts with low-return government bonds. Richard Cordray, director of the Consumer Financial Protection Board, told Bloomberg News that his new regulatory agency was mulling a move to control the $20 trillion that Americans have invested for retirement. He specifically mentioned 401(k) plans and IRAs. “That’s one of the things we’ve been exploring,” Cordray told Bloomberg reporter Carter Dougherty in January. Cordray’s seemingly stray comment was largely ignored by mainstream and financial media, but won the attention of fund managers and economists. SNIP...
  • Yet Another Government Agency Is Keeping Tabs On You

    11/20/2013 7:37:24 AM PST · by SeekAndFind · 4 replies
    RCM ^ | 11/20/2013 | Hester Pierce
    At a Senate Banking Committee hearing last week, Richard Cordray - the director of the Bureau of Consumer Financial Protection - was on the defensive with respect to the bureau's collection of information about Americans' spending habits. His unpersuasive defense of the CFPB's data collection practices was not surprising in light of the agency's flawed design. First, Mr. Cordray explained that the industry and other regulators also collect credit card information. It is difficult to understand how he reached that conclusion since he did not seem certain about the scope of the bureau's data collection efforts. Mr. Cordray did not...