Expect More CFPB Action In Financial Services Sector

Law360, New York (September 6, 2013, 6:38 PM EDT) -- Richard Cordray’s recent confirmation to head the Consumer Financial Protection Bureau, almost two years after he was initially nominated, will likely bring important changes for the CFPB and the banks and finance companies it regulates. The agency was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and Cordray has been serving as director under a recess appointment made by President Obama in January 2012. This confirmation lifts the cloud over the CFPB’s jurisdiction and enforcement powers cast by the U.S. Supreme...
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