Richard Cordray - Tagged Posts - Auto Dealer Today

House Committee, CFPB Director to Face Off Next Week

Richard Cordray and Republican members of the House Financial Services Committee are set to square off next Wednesday. It will be the first time the director of the CFPB will appear before the committee since it issued two reports criticizing the bureau’s activities in the auto finance arena.

CFPB Deputy Director Steve Antonakes Steps Down

After nearly five years with the CFPB, Deputy Director Steve Antonakes is stepping down from his position as the bureau’s No. 2 official to spend more time with his family.

NADA Files Request to Make CFPB Memo Public

The National Automobile Dealers Association filed a Freedom of Information Act request Monday, seeking to make a Consumer Financial Protection Bureau memo about limiting dealer discretion public.

CFPB Finalizes Proposal to Oversee Nonbank Auto Finance Companies

The CFPB finalized today its proposal to oversee nonbank auto finance companies. The finalized rule will take effect 60 days after publication in the Federal Register.

CFPB Faces Mounting Criticism, New Bipartisan Bill

On the same day The Wall Street Journal published an op-ed piece critical of the CFPB’s targeting of the indirect auto finance channel, a bipartisan bill was introduced that aims to repeal the bureau’s guidance on dealer participation.

Cordray: CFPB Disagrees With Conclusions of CRA Study

CFPB Director Richard Cordray fielded questions about dealer compliance programs and a recent study calling out the bureau’s methods for determining discrimination during a semi-annual report to Congress earlier this month.

CFPB is ‘Least Accountable’ Federal Agency, Lawmaker Charges

Rep. Jeb Hensarling, on behalf of the House Financial Services Committee, released a video Monday calling on the CFPB to make its advisory council meetings open to the public.

Beware the Future

While it’s unwise to get stuck in a bygone era, ‘Da Man’ reminds us all that exciting predictions for the future don’t always pan out.

CFPB Responds to Senators’ Demands

CFPB Director Richard Cordray responded Monday to lawmaker demands for information on the bureau’s investigation of the indirect financing channel. The director delivered his response a day before Ally revealed in a filing with the SEC that it may be facing ECOA violations.

Steven Antonakes Named Deputy Director of CFPB

Steven Antonakes officially assumes the role of deputy director for the CFPB, the bureau announced this week.