Banking Law News

CFPB’s Demise in Trump Era Is Exaggerated, Ex-Chief Cordray Says

Dec. 5, 2019, 4:40 PM

Former Consumer Financial Protection Bureau Director Richard Cordray says that reports of the agency’s demise during the Trump administration are “overstated.”

The CFPB continues to “function as intended” even under directors appointed by President Donald Trump, Cordray said, despite concerns he has about its enforcement work and efforts to scale back payday lending regulations.

“We always knew there would be ebbs and flows in this work with successive administrations, and we must maintain our persistence over the long haul,” Cordray said Dec. 5 in remarks to the Consumer Federation of America in Washington.

Cordray said the CFPB’s decision to keep...

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