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Elizabeth Warren, the new senator from Massachusetts and the CFPB's founder, is uniquely positioned to cut a deal on the agency's structure, a move that could pave the way to confirm Richard Cordray as head of the agency and remove legal uncertainty surrounding its powers.
January 31 -
Several tech startups have made short-term credit the focus of their business models. But could a product so universally frowned upon ever achieve mainstream acceptance?
January 30
A recent court ruling has cast some doubt over whether the recently renominated Richard Cordray will continue to serve as director of the Consumer Financial Protection Bureau.
The ruling, filed by a three-judge panel of the U.S. Court of Appeals for the D.C. Circuit,
The White House is expected to appeal the ruling to the Supreme Court, meaning an actual ousting from office is not imminent. But, even prior to the decision, Cordray's status at the CFPB remained murky. His recess appointment expires at the end of this year and the road to a second confirmation was expected to be just as
This is largely due to the fact that Republicans oppose the idea of a director in general, believing the position puts unprecedented power in the hands of a single individual. They also take issue with the fact that the CFPB is, as this
There's been some
Who these members would be is up for debate. Many obvious candidates have effectively taken themselves out of the running. Cordray's second-in-command Raj Date
If Cordray is, in fact, on his way out, who should take his job? Or, alternately, if a deal is struck between Democrats and Republicans to create a commission, who should chair it? What makes this person a good candidate? Let us know in the comments below.
Jeanine Skowronski is the deputy editor of BankThink. You can contact her at
