Cordray Defends CFPB's Agenda Before House Panel

Law360, New York (January 24, 2012, 8:37 PM EST) -- Newly appointed Consumer Financial Protection Bureau Director Richard Cordray assured a House panel Tuesday that his agency intended to operate within the statutory restraints imposed by Congress, while Republican lawmakers continued to press Cordray to disclose more specifics about the agency's future plans.

In fielding questions from lawmakers on the House subcommittee on TARP and financial services, Cordray deflected Republican attacks that the CFPB lacks accountability and transparency, testifying that the agency undergoes checks not imposed on other financial regulators and is constrained by the parameters...
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