CFPB Releases Credit Card Agreement Prototype, Before Cordray Nomination Vote

By: Wednesday December 7, 2011 2:45 pm

Today, the Consumer Financial Protection Bureau unveiled a prototype credit card agreement designed to ease understanding of obligations. The CFPB will test the statement with the Pentagon Federal Credit Union, one of the largest in the nation. This comes just before a Senate vote on Richard Cordray’s nomination to head the CFPB.

Colossally Low Residential Investment Due to Fraudulent Housing Market

By: Friday October 28, 2011 7:07 pm

Pending home sales fell again in September, yet another of the bad signals coming out of a broken housing market, one of the biggest challenges for economic growth. Residential investment as a share of GDP is now shockingly low, below any point in the past 60 years.

Elizabeth Warren to Leave Treasury on August 1

By: Wednesday July 27, 2011 8:26 am

Elizabeth Warren hinted at this last week when Richard Cordray was named as the nominee to run the Consumer Financial Protection Bureau, but now it’s official – she will leave her position as a counselor to Treasury and Assistant to the President on August 1. And rather than Cordray, the nominee and the current head of enforcement at CFPB, taking over, Raj Date will manage day-to-day operations until there’s a director.

Warren Ruled Out as Consumer Agency Head

By: Saturday July 16, 2011 9:45 am

A separate article in the Wall Street Journal said the short list was narrowed to Raj Date, Richard Cordray and Jennifer Granholm. But Granholm already turned down the job, saying Warren deserved it, and she doesn’t work at CFPB. So it’s probably down to Cordray and Date, and in all honesty, I’m fairly sure Date will be nominated. The fact that nobody would leapfrog Warren and take the job was working to constrain the Administration’s options for a time, but once Date expressed willingness, Warren couldn’t very well say no to someone she hired.

Financial Regulatory Appointments Eyed by White House

By: Saturday June 11, 2011 7:52 am

The White House appears finally ready to make a number of financial regulatory picks, readying nominees to replace the heads of the FDIC and the OCC, who have left or are in the process of leaving.

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