Looks Like Elizabeth Warren's Consumer Watchdog Is Headed For A Court Victory
7 years, 10 months ago

Looks Like Elizabeth Warren's Consumer Watchdog Is Headed For A Court Victory

Huff Post  

LOADING ERROR LOADING WASHINGTON — If the firing of FBI Director James Comey has taught the country anything, it’s that a president has broad constitutional powers to dismiss the head of just about any federal agency he’d like. Under the law, the president may fire the CFPB director only “for cause,” which means Trump can’t just make up a pretext and fire Cordray. Theodore Olson, a high-powered attorney representing PHH Corp., a company targeted by the CFPB that is leading the charge against it, told the court that the agency’s structure is “manifestly unconstitutional.” “This wolf comes as a wolf,” Olson said, quoting from a widely cited dissent by the late Justice Antonin Scalia warning against violating the separation of powers. Sen. Elizabeth Warren talks with Consumer Financial Protection Bureau Director Richard Cordray after he testified on Capitol Hill on Wall Street reform in 2014. Under that provision, commission members could only be fired by the president for “inefficiency, neglect of duty, or malfeasance in office.” That case and another one the Supreme Court decided in 1988 — which upheld an independent counsel statute allowing the Department of Justice to prosecute high-ranking federal officials — were cited in court as though the case against the CFPB and Cordray were open and shut.

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Consumer Financial Protection Bureau won't be deleted, Trump administration says
1 month ago

Consumer Financial Protection Bureau won't be deleted, Trump administration says

Salon  

The Consumer Financial Protection Bureau, a longtime target of the Republican Party that has undergone a significant shakeup in recent weeks, will continue operating, the Trump administration says. Related Overdraft fees to be limited under new rule “The predicate to running a ‘more streamlined and efficient bureau’ is that there will continue to be a CFPB,” Vought said in the …

Consumer watchdog agency called ‘vicious’ by Trump seen as a ‘hero’ to many it aided
1 month, 1 week ago

Consumer watchdog agency called ‘vicious’ by Trump seen as a ‘hero’ to many it aided

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. “This is the core of consumer protection – …

Consumer watchdog agency called ‘vicious’ by Trump seen as a ‘hero’ to many it aided
1 month, 1 week ago

Consumer watchdog agency called ‘vicious’ by Trump seen as a ‘hero’ to many it aided

Associated Press  

NEW YORK — To President Donald Trump, it’s a hotbed of “waste, fraud and abuse” whose only purpose is to “destroy people” and whose staff amounts to a “vicious group.” To Jonathon Booth, it’s simply the agency that helped him get $17 back. “This is the core of consumer protection – someone willing to help with stuff that’s small enough …

Dismantling watchdog leaves consumers in a limbo
1 month, 2 weeks ago

Dismantling watchdog leaves consumers in a limbo

China Daily  

US Senator Elizabeth Warren, Democrat from Massachusetts, attends a protest rally against Donald Trump administration's anticipated plan to close the Consumer Financial Protection Bureau in front of the bureau's headquarters in Washington, DC, on Monday. SAUL LOEB/AFP WASHINGTON — The Donald Trump administration's rapid dismantling of the US consumer protection watchdog will have broad implications for consumers with credit cards, …

Column: Trump’s move to kill federal consumer watchdog will protect Big Business but cost consumers billions
1 month, 2 weeks ago

Column: Trump’s move to kill federal consumer watchdog will protect Big Business but cost consumers billions

LA Times  

CFPB unplugged: The home page of the Consumer Finance Protection Bureau is offline, following the arrival of Trump acolytes determined to kill the bureau outright. — Dennis Kelleher, Better Markets “I am the acting director of the CFPB,”he said, “something that’s apparently keeping Elizabeth Warren up late at night, which doesn’t bother me at all.” Mulvaney isn’t part of the …

The Trump administration has stopped work at the CFPB. Here's what the agency does
1 month, 2 weeks ago

The Trump administration has stopped work at the CFPB. Here's what the agency does

NPR  

The Trump administration has stopped work at the CFPB. Here's what the agency does toggle caption Anna Moneymaker/Getty Images North America The main U.S. agency tasked with overseeing the financial products and services used by everyday Americans — from credit cards to checking accounts to home loans — is the latest target of the Trump administration's effort to remake the …

Trump’s New Budget Chief Orders Federal Financial Watchdog To Halt Operations
1 month, 2 weeks ago

Trump’s New Budget Chief Orders Federal Financial Watchdog To Halt Operations

Huff Post  

LOADING ERROR LOADING The lead architect of Project 2025 and recently appointed acting director for the Consumer Financial Protection Bureau has told the agency’s employees to essentially halt all operations ― the Trump administration’s latest move to roll back consumer protections against corporate giants. In a Saturday email obtained by several news outlets, Russell Vought ordered the federal financial industry …

Trump administration orders Consumer Financial Protection Bureau to stop work
1 month, 2 weeks ago

Trump administration orders Consumer Financial Protection Bureau to stop work

The Hindu  

The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down an agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal. The email also ordered the bureau to “cease all supervision and examination activity.” Also late Saturday, Vought said in a social media post that …

Trump administration orders consumer protection agency to stop work, closes building
1 month, 2 weeks ago

Trump administration orders consumer protection agency to stop work, closes building

Associated Press  

▶ Follow live updates on President Donald Trump and his new administration. The email also ordered the bureau to “cease all supervision and examination activity.” On Sunday, administration officials also said that the CFPB’s headquarters in Washington, D.C. would be closed the week of Feb. 10 through Feb. 14, according to an email obtained by The Associated Press. And the …

Trump administration pauses work of consumer watchdog and names Scott Bessent as acting head
1 month, 3 weeks ago

Trump administration pauses work of consumer watchdog and names Scott Bessent as acting head

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery Bessent issued a temporary pause on bureau activity while the …

Trump Fires The Director Of Consumer Financial Protection Bureau
1 month, 3 weeks ago

Trump Fires The Director Of Consumer Financial Protection Bureau

Huff Post  

LOADING ERROR LOADING PALM BEACH, Fla. — President Donald Trump has fired the director of the Consumer Financial Protection Bureau, Rohit Chopra, in the latest purge of a Biden administration holdover. In a social media post Saturday about his departure, Chopra thanked people across the country who “shared their ideas and experiences” with the government’s consumer financial watchdog agency. Consumer …

Trump fires the director of the Consumer Financial Protection Bureau
1 month, 3 weeks ago

Trump fires the director of the Consumer Financial Protection Bureau

Associated Press  

PALM BEACH, Fla. — President Donald Trump has fired the director of the Consumer Financial Protection Bureau, Rohit Chopra, in the latest purge of a Biden administration holdover. In a social media post Saturday about his departure, Chopra thanked people across the country who “shared their ideas and experiences” with the government’s consumer financial watchdog agency. “The longer Director Chopra …

Trump fires chief of the federal consumer watchdog agency
1 month, 3 weeks ago

Trump fires chief of the federal consumer watchdog agency

NPR  

Trump fires chief of the federal consumer watchdog agency toggle caption Andrew Harnik/AP The Trump administration has fired Rohit Chopra, the director of the Consumer Financial Protection Bureau. In a resignation letter posted on X, Chopra said watchdog agencies such as the CFPB work to enforce laws to "check the enormous influence that powerful firms have over our daily lives." …

Trump fires head of the Consumer Financial Protection Bureau
1 month, 3 weeks ago

Trump fires head of the Consumer Financial Protection Bureau

CNN  

New York CNN — President Donald Trump has fired Rohit Chopra, the director of the Consumer Financial Protection Bureau. They, alongside tech industry leaders, have encouraged Trump to remove Chopra from his role — which was made possible by a 2020 Supreme Court ruling that enabled presidents to fire CFPB directors. In his time at the CFPB, Chopra spearheaded controversial …

How might the Consumer Financial Protection Bureau change under Trump's presidency?
2 months, 2 weeks ago

How might the Consumer Financial Protection Bureau change under Trump's presidency?

NPR  

How might the Consumer Financial Protection Bureau change under Trump's presidency? He's staffing his administration with aides who consider it wrong that Congress gave some federal agencies a measure of independence from the president, and that raises questions about what happens to the Consumer Financial Protection Bureau. Christine Chen Zinner is a senior policy counsel at Americans for Financial Reform, …

What will Trump and GOP Congress do to the Consumer Financial Protection Bureau?
4 months ago

What will Trump and GOP Congress do to the Consumer Financial Protection Bureau?

Raw Story  

Just hours after U.S. President Donald Trumpnamed a labor secretary nominee seen by some union leaders and advocates as genuinely pro-worker, The Washington Post on Saturday detailed what the incoming administration and Republican Congress have planned for a federal agency designed to protect everyday Americans from corporate abuse. "Of course Trumpers want to dismantle the only agency formed in decades …

Supreme Court Strikes Down Consumer Financial Protection Bureau Leadership
4 years, 8 months ago

Supreme Court Strikes Down Consumer Financial Protection Bureau Leadership

Huff Post  

LOADING ERROR LOADING The president has broad authority to dismiss the head of the Consumer Financial Protection Bureau, the Supreme Court ruled Monday in a 5-4 decision along ideological lines. The court’s narrow ruling in Selia Law v. Consumer Financial Protection Bureau is a short-term win for the financial industry that will nevertheless leave many consumer advocates breathing a sigh …

CFPB: Supreme Court rules Trump can fire director of consumer agency at will
4 years, 8 months ago

CFPB: Supreme Court rules Trump can fire director of consumer agency at will

CNN  

CNN — The Supreme Court on Monday ruled to limit the independence of a watchdog agency that was created to combat unfair and deceptive practices against consumers in the wake of the 2008 financial crisis. Congress established the CFPB in the wake of the 2008 financial crisis with a mandate that it would be led by a single director, serving …

Elizabeth Warren To Consumer Chief: 'You Owe The Public Straight Answers'
6 years, 11 months ago

Elizabeth Warren To Consumer Chief: 'You Owe The Public Straight Answers'

NPR  

Elizabeth Warren To Consumer Chief: 'You Owe The Public Straight Answers' toggle caption Alex Wong/Getty Images Sen. Elizabeth Warren sent a letter to the Trump administration's top consumer protection official late Thursday asking him whether he is doing the bidding of the industries he is supposed to be policing. Sponsor Message Warren told Mulvaney in a letter: "Almost every one …

Face-Off: Elizabeth Warren Vs. Trump's Consumer Watchdog, Mick Mulvaney
6 years, 11 months ago

Face-Off: Elizabeth Warren Vs. Trump's Consumer Watchdog, Mick Mulvaney

NPR  

Face-Off: Elizabeth Warren Vs. Trump's Consumer Watchdog, Mick Mulvaney Enlarge this image toggle caption Manuel Balce Ceneta/AP Manuel Balce Ceneta/AP An epic throw-down happened Thursday on Capitol Hill over the role of the federal government. Mulvaney, Trump's appointee, calls the bureau Warren's "baby." She pressed Mulvaney: Sponsor Message Maloney: "So let me ask you how many enforcement actions has the …

Clash For Control Of Consumer Financial Protection Bureau Heads To Court
6 years, 11 months ago

Clash For Control Of Consumer Financial Protection Bureau Heads To Court

NPR  

Clash For Control Of Consumer Financial Protection Bureau Heads To Court Enlarge this image toggle caption Alex Wong/Getty Images Alex Wong/Getty Images As the current Consumer Financial Protection Bureau head sparred with the agency's champion, Sen. Elizabeth Warren, in a congressional hearing, a legal battle over who gets to run the bureau escalated in a Washington, D.C., courtroom on Thursday. …

Trump Official Wants To Put Tight Leash On Consumer Watchdog Agency
6 years, 11 months ago

Trump Official Wants To Put Tight Leash On Consumer Watchdog Agency

NPR  

Trump Official Wants To Put Tight Leash On Consumer Watchdog Agency Enlarge this image toggle caption Brendan Smialowski/AFP/Getty Images Brendan Smialowski/AFP/Getty Images The Trump administration will ask Congress to make drastic changes to weaken the independence of the Consumer Financial Protection Bureau, NPR has learned. Sources familiar with the matter tell NPR that the CFPB's interim director, Mick Mulvaney, will …

Consumer protection bureau’s chief formally asks Congress to slash his agency’s power
6 years, 11 months ago

Consumer protection bureau’s chief formally asks Congress to slash his agency’s power

LA Times  

Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, speaks at a White House news briefing on March 22. Mick Mulvaney — who has been an outspoken critic of the consumer protection bureau since before President Trump appointed him as its acting director last year — also wants Congress to change how the bureau is funded, make its …

Column: CFPB acting Director Mick Mulvaney seems to think his job includes taking potshots at Elizabeth Warren
7 years ago

Column: CFPB acting Director Mick Mulvaney seems to think his job includes taking potshots at Elizabeth Warren

LA Times  

“I am the acting director of the CFPB,” Mick Mulvaney told a group of bankers Tuesday, “something that’s apparently keeping Elizabeth Warren up late at night, which doesn’t bother me at all.” His audience, a Washington gathering of credit union executives, chortled appreciatively. “We are concerned,” Warren and her colleagues wrote, “that reversing the rule and dismissing the case are …

Consumer Financial Protection Bureau’s structure is constitutional, appeals court rules in a blow to agency’s opponents
7 years, 1 month ago

Consumer Financial Protection Bureau’s structure is constitutional, appeals court rules in a blow to agency’s opponents

LA Times  

Supporters of the Consumer Financial Protection Bureau might have just won the war over the future of the controversial watchdog even as they are losing battle after battle over its operations under President Trump. While Hensarling said he was “deeply disappointed” in the ruling, he added that he took “great solace in the fact that Mick Mulvaney can use his …

Donald Trump has destroyed the Consumer Finance Protection Bureau
7 years, 3 months ago

Donald Trump has destroyed the Consumer Finance Protection Bureau

Salon  

President Donald Trump hasn't even appointed a permanent director to the CPFB, but already it seems like he has wreaked havoc on the organization. Mick Mulvaney, the Director of the Office of Management and Budget who is serving as the temporary head of the Consumer Finance Protection Bureau, has changed that agency's mission statement in a way that fundamentally alters …

Elizabeth Warren Rallies Supporters Against Trump's Consumer Watchdog Appointment
7 years, 3 months ago

Elizabeth Warren Rallies Supporters Against Trump's Consumer Watchdog Appointment

Huff Post  

LOADING ERROR LOADING WASHINGTON ― Sen. Elizabeth Warren on Tuesday rallied progressive activists against President Donald Trump’s appointment for interim head of the Consumer Financial Protection Bureau. “It’s like a double kiss to Wall Street this week ― trying to push forward tax reform that gives a trillion and a half dollars in tax cuts to giant corporations and at …

Elizabeth Warren On CFPB Clash: Trump Keeps Choosing 'Big Banks' Over 'Working Families'
7 years, 3 months ago

Elizabeth Warren On CFPB Clash: Trump Keeps Choosing 'Big Banks' Over 'Working Families'

Huff Post  

LOADING ERROR LOADING Sen. Elizabeth Warren said President Donald Trump’s appointment of Mick Mulvaney as acting director of the Consumer Financial Protection Bureau is more proof he cares more about big banks than working families. “This is about whose side president Trump is on — big banks, or working families,” Warren told the Post. Is he going to stand up …

Trump and outgoing Protection director pick new leaders
7 years, 4 months ago

Trump and outgoing Protection director pick new leaders

Daily Mail  

Confusion is gripping the top consumer watchdog agency in the nation after the Trump administration appointed an interim head of the Consumer Financial Protection Bureau just hours after the outgoing director named a successor. Donald Trump named an interim head of the Consumer Financial Protection Bureau on Friday just hours after the outgoing director Richard Cordray named a successor Mick …

Explaining The Consumer Financial Protection Bureau Confusion
7 years, 4 months ago

Explaining The Consumer Financial Protection Bureau Confusion

NPR  

Explaining The Consumer Financial Protection Bureau Confusion With the director of the Consumer Financial Protection Bureau stepping down, there's a dispute between the outgoing chief and the White House over who will take over as acting director. SCOTT SIMON, HOST: On Monday morning, a couple of people could show up at the Consumer Financial Protection Bureau - both of them …

Trump Names His Budget Chief As Interim Head Of Consumer Protection Agency
7 years, 4 months ago

Trump Names His Budget Chief As Interim Head Of Consumer Protection Agency

NPR  

Trump Names His Budget Chief As Interim Head Of Consumer Protection Agency Enlarge this image toggle caption Astrid Riecken/Getty Images Astrid Riecken/Getty Images Updated at 10:03 p.m. ET President Trump on Friday announced that Mick Mulvaney would become acting director of the Consumer Financial Protection Bureau, hours after outgoing Director Richard Cordray tapped his own interim successor. "The President looks …

Trump names Mulvaney as acting chief of consumer bureau as Richard Cordray departs
7 years, 4 months ago

Trump names Mulvaney as acting chief of consumer bureau as Richard Cordray departs

LA Times  

President Trump on Friday named White House budget director Mick Mulvaney as the acting chief of the Consumer Financial Protection Bureau as Richard Cordray prepared to depart the agency. Cordray announced that Friday would be his last day as the bureau’s director and appointed a new deputy in hopes of keeping an ally in charge until the Senate confirms for …

Richard Cordray is resigning as Consumer Financial Protection Bureau chief
7 years, 4 months ago

Richard Cordray is resigning as Consumer Financial Protection Bureau chief

LA Times  

Richard Cordray announced that he expects to step down before the end of the month as director of the Consumer Financial Protection Bureau. Richard Cordray announced his impending resignation Wednesday to the staff of the Consumer Financial Protection Bureau, which was established by the 2010 Dodd-Frank Wall Street reform act after the financial crisis. “Under a new director, I think …

Richard Cordray could step down soon, leaving the Consumer Financial Protection Bureau in limbo
7 years, 6 months ago

Richard Cordray could step down soon, leaving the Consumer Financial Protection Bureau in limbo

LA Times  

Richard Cordray, director of the Consumer Financial Protection Bureau, arrives at the Treasury Department for a regulatory meeting in 2016. The Republican push to oust Richard Cordray as director of the Consumer Financial Protection Bureau soon might get a boost from an unexpected source: Cordray himself. “It’s certainly not going to be clear sailing.” The 2010 Dodd-Frank financial reform law, …

Justice Department tells court that Trump should be able to fire consumer watchdog
8 years ago

Justice Department tells court that Trump should be able to fire consumer watchdog

LA Times  

The Justice Department told a federal court on Friday that President Trump should be able to fire the head of the Consumer Financial Protection Bureau, arguing the structure of the controversial independent watchdog is unconstitutional. In a 33-page filing Friday, the Justice Department told the U.S. Court of Appeals for the District of Columbia that “there is a greater risk …

Consumer Financial Protection Bureau director says Trump won’t change agency’s aggressive efforts
8 years, 2 months ago

Consumer Financial Protection Bureau director says Trump won’t change agency’s aggressive efforts

LA Times  

Richard Cordray, director of the Consumer Financial Protection Bureau, arrives at a meeting at the Treasury Department in November. The nation’s top consumer financial watchdog, who some Republicans want President Trump to fire, said Tuesday that the new Republican administration won’t change his approach to aggressively hold banks and other financial firms accountable. Richard Cordray, director of the Consumer Financial …

Watchdog agency appeals ruling that would allow Trump to fire director
8 years, 4 months ago

Watchdog agency appeals ruling that would allow Trump to fire director

LA Times  

Richard Cordray, director of the Consumer Financial Protection Bureau, could be fired once President-elect Donald Trump takes office unless the agency successfully appeals a recent court ruling. The Consumer Financial Protection Bureau on Friday appealed a recent court ruling that could allow President-elect Donald Trump, once he takes office in January, to replace the watchdog agency’s embattled director. In a …

Trump Will Tear Down Elizabeth Warren’s Legacy, Too
8 years, 4 months ago

Trump Will Tear Down Elizabeth Warren’s Legacy, Too

Slate  

On Thursday, barely a day after Hillary Clinton conceded the presidential election, Massachusetts Sen. Elizabeth Warren gave a fiery speech at an invitation-only lunch hosted by the executive council of the AFL-CIO. If Trump and the Republican Party try to turn loose the big banks and financial institutions so they can once again gamble with our economy and bring it …

Consumer Financial Protection Bureau Could Be Defanged Under Donald Trump
8 years, 4 months ago

Consumer Financial Protection Bureau Could Be Defanged Under Donald Trump

Huff Post  

LOADING ERROR LOADING WASHINGTON, Nov 11 - The U.S. Consumer Financial Protection Bureau, already in legal limbo after an October court decision, could find its powers scaled back by President-elect Donald Trump and a Republican-led Congress, according to members of both political parties, lobbyists and lawyers. The Consumer Financial Protection Bureau, which was designed to protect consumers’ finances, is considered …

Trump administration could upend post-crisis financial reforms, weaken CFPB
8 years, 4 months ago

Trump administration could upend post-crisis financial reforms, weaken CFPB

LA Times  

Analysts expect that Richard Cordray, center, director of the Consumer Financial Protection Bureau, will be replaced once President-elect Donald Trump takes office, probably in favor of a director seen as friendlier to the finance industry. “There’s no question from the industry’s standpoint that a Trump victory is a huge win,” said Scott Pearson, a Los Angeles-based partner at law firm …

Elizabeth Warren’s Wall Street Watchdog Ruled Unconstitutional In Current Form
8 years, 5 months ago

Elizabeth Warren’s Wall Street Watchdog Ruled Unconstitutional In Current Form

Huff Post  

Sen. Elizabeth Warren is viewed as one of Congress' fiercest Wall Street critics. Bill Clark/Getty Images WASHINGTON ― A federal appeals panel ruled on Tuesday that the structure of the Consumer Financial Protection Bureau, the Wall Street watchdog conceived by Sen. Elizabeth Warren, is unconstitutional. Circuit Judge Brett Kavanaugh wrote in the decision that the CFPB’s “single-director structure” violates the …

Federal agency that investigated Wells Fargo scandal dealt blow by court
8 years, 5 months ago

Federal agency that investigated Wells Fargo scandal dealt blow by court

LA Times  

A U.S. consumer watchdog agency that helped unravel the Wells Fargo & Co. scandal has an unconstitutional structure because it gives too much power to its director, a federal appeals court ruled Tuesday. The law creating the CFPB “carefully struck a balance between protecting the consumer bureau from politics and the industry’s political allies while insuring it was accountable and …

Why Elizabeth Warren's Consumer Watchdog Could Be In Danger
8 years, 11 months ago

Why Elizabeth Warren's Consumer Watchdog Could Be In Danger

Huff Post  

A federal court heard oral arguments in a mortgage lender's challenge to a Consumer Financial Protection Bureau fine. “In summary, this is an unprecedented, unconstitutional agency that has more power than Congress and the president put together.” - Theodore Olson, counsel of record, PHH Corporation PHH’s attorneys, led by Theodore Olson, one of the most prominent litigators in the country, …

Obama picks Richard Cordray to head Consumer Financial Protection Bureau
13 years, 8 months ago

Obama picks Richard Cordray to head Consumer Financial Protection Bureau

LA Times  

President Obama will nominate former Ohio Atty. After months of speculation about who would lead the powerful Consumer Financial Protection Bureau, the White House announced Sunday that Obama decided to bypass Elizabeth Warren, the liberal Harvard law professor who in 2007 proposed creating the agency. Obama opted for Cordray, who lost his reelection bid in Ohio last fall and was …

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