Cordray Renews CFPB Promises Despite Senate Grilling

Law360, New York (January 31, 2012, 3:18 PM EST) -- The U.S. Senate on Tuesday grilled Consumer Financial Protection Bureau Director Richard Cordray about how the agency is fulfilling its stated consumer-protection mission and what steps it plans to take now that it can assume its full powers following the Jan. 4 recess appointment of Cordray.

During a Senate Banking Committee hearing intended to review the agency's first semi-annual report to Congress, lawmakers continued their contentious debate over the agency's operations, with Democrats praising the agency's accountability and Republicans raising concerns about the agency's actions and...
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