Swordsmyth
08-04-2017, 11:36 PM
Republicans in the U.S. House of Representatives are pushing to hold Consumer Financial Protection Bureau Director Richard Cordray in contempt of Congress for refusing to respond sufficiently to congressional subpoenas.A report released on Friday by Republican staff of the House Financial Services Committee argued there was "ample evidence" to hold Cordray in contempt because of his alleged failure to fully comply with subpoena requests. Republicans on the panel have been fiercely critical of the CFPB's regulatory work.
The report marked the most direct threat yet to pursue legal action against Cordray, who was appointed by Democratic former President Barack Obama after the agency was created under the 2010 Dodd-Frank financial reform law.
The subpoenas sought records tied to the CFPB's successful efforts to ban mandatory arbitration clauses from financial contracts, including communications between CFPB staff and meetings with outside groups.
The ban, hailed by consumer advocates, was finalized in July but Republicans in Congress are working to overturn it.
More at: https://www.yahoo.com/news/house-republicans-build-case-contempt-charges-against-consumer-180458125--sector.html
The report marked the most direct threat yet to pursue legal action against Cordray, who was appointed by Democratic former President Barack Obama after the agency was created under the 2010 Dodd-Frank financial reform law.
The subpoenas sought records tied to the CFPB's successful efforts to ban mandatory arbitration clauses from financial contracts, including communications between CFPB staff and meetings with outside groups.
The ban, hailed by consumer advocates, was finalized in July but Republicans in Congress are working to overturn it.
More at: https://www.yahoo.com/news/house-republicans-build-case-contempt-charges-against-consumer-180458125--sector.html