Fight Over CFPB's Power Likely To Dominate Cordray Hearing
By Evan Weinberger
Law360, New York (March 11, 2013, 7:56 PM EDT) -- Senators are poised for a tough battle over the Consumer Financial Protection Bureau’s leadership structure at Tuesday’s confirmation hearings for its current director, Richard Cordray, reviving a battle over the agency's powers that will likely overshadow much-needed discussions about the agency’s agenda and enforcement practices, observers say.
The CFPB since its inception has been dogged by a political fight over its single-director leadership structure and its placement outside of the congressional appropriations process since its creation in the 2010 Dodd-Frank Act. Republicans have vowed not to...