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Consumer watchdog gains support as Cordray leads CFPB
Senate battles over the consumer watchdog fade as Barack Obama praises Richard Cordray for directing the CFPB. The agency claims to have saved families millions by curbing deceptive lending and securing $400 million in refunds from Capital One Discover and American Express. Critics warn the bureau may overstep, questioning its authority and the use of the term abusive in regulatory law.
MENTIONED IN THIS ARTICLE
Washington
Senate Republicans
Rich
Barack Obama
White House
Richard Cordray
Financial Protection Bureau
Obama
Cordray
Ohio
Senate
Harry Reid
Nevada
National Labor Relations Board
Katz
Rob Portman
Robio
Ed Mierzwinski
U.S
Public Interest Research Group
Capital One
Discover
American Express
Mierzwinski
Heritage