CFPB Resource Center

  • March 29, 2013
    CFPB Field Hearing and Expansion of Consumer Complaint Database As referenced in Rapid Fire, on Thursday, March 28, 2013, the CFPB held a field hearing in Des Moines, Iowa, on its consumer complaint database. Prior to the hearing, the Bureau announced a significant expansion of its database from about 19,000 credit card complaints to more than 90,000 complaints on mortgages, student loans, bank...
  • March 22, 2013
    Cordray Nomination Moves to Full Senate On Tuesday, March 19, 2013, the Senate Banking Committee advanced President Obama’s nominees for the CFPB and the SEC. As expected, current CFPB Director Richard Cordray - who was recessed appointed by the President in January 2012 - was approved by a party line vote of 12 to 10. These nominations will now go to the full Senate for consideration...
  • March 15, 2013
    CFPB Director Corday's Confirmation Hearing On March 12, 2013, the Senate Banking Committee met to consider the nominations of Mary Jo White for Chairman of the Securities and Exchange Commission (“SEC”) and Richard Cordray as Director of the Consumer Financial Protection Bureau (“CFPB”). Ms. White seemed to garner broad support from the Committee, and while many Members on the Left pledged their...
  • March 8, 2013
    Cordray Confirmation Hearing Scheduled for Next Week As mentioned above, the Senate will hold a confirmation hearing for Richard Cordray as CFPB Director on Tuesday, March 12, 2013. On Friday, February 1, 2013, 43 Republican senators sent a letter to President Obama reconfirming their commitment to vote down Cordray or any other nominee for Director of the CFPB. The senators indicated any nominee...
  • March 1, 2013
    CBA Submits Comment on Additional QM Proposal On Monday, February 25, 2013, CBA filed a comment letter with the CFPB in response to the QM proposal the agency issued last month, in connection with the final QM rules that were also issued at that time. Highlights of the letter are as follows: In our earlier comment letter in response to the initial QM proposal issued in 2011, CBA opposed the...
  • February 22, 2013
    CFPB Consumer Advisory Board Meeting On Wednesday, February 20, 2013, the CFPB held a public meeting of the Consumer Advisory Board (CAB). The CAB is mandated by Section 1014 of the Dodd-Frank Act to advise and consult with the Bureau in the exercise of its function, and is required to meet at least twice a year. A list of the members can be found on the CFPB website . Though most of the business...
  • February 15, 2013
    CFPB Issues Warning for Mortgage Servicers on Transferred Loans On Monday, February 11, 2013, the CFPB issued a bulletin warning mortgage servicers about their legal obligations with regard to transferred loans. The CFPB has noted a significant number of servicing complications related to the volume of transfers in the past year. The Bureau plans to make servicing transfer-related problems a...
  • February 8, 2013
    Republicans Reaffirm Commitment to Vote Down CFPB Nomination On Friday, February 1, 2013, 43 Republican senators sent a letter to President Obama reconfirming their commitment to vote down Richard Cordray or any other nominee for Director of the CFPB. The senators indicated any nominee would be met with disapproval until the agency underwent significant reform. Specifically, Republicans would...
  • February 1, 2013
    CFPB Announces Antonakes as Acting Assistant Director On Thursday, January 31, 2013, the CFPB announced Steve Antonakes, currently the agency’s Associate Director for Supervision, Enforcement, and Fair Lending, will serve as Acting Deputy Director. Deputy Director Raj Date announced in late 2012 his plans to depart the agency January 31, 2013. The CFPB is searching now for his replacement...
  • January 25, 2013
    President Obama Re-Nominates Richard Cordray On Thursday, January 24, 2013 the President re-nominated Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB). Cordray is currently the director pursuant to a controversial recess appointment in January 2012 after his nomination was held up in the Senate. His current term will expire in January 2014. If his nomination is...

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