Richard Cordray Won't Be Around To See The Court Decision That Would Have Gotten Him Fired
President Trump's DOJ  took a stance against the CFPB  arguing the President should be able to remove the director at-will.  He  also recently signed legislation passed by Republicans that voided a controversial rule approved by the CFPB that would have prevented financial services companies from including class action waivers in their contracts.
âOnce there is a Director  or Acting Director  appointed by  President Trump  in place  there could be interesting results â he said.
âFor example  with a Director appointed by President Obama in place   the Trump administration  has advocated the position that the CFPB structure is not constitutional. With  a Director appointed by President Trump in place   will  the Trump administration  back off that position?â
Same goes for consumer groups and Democrats  which have defended the current CFPB structure   he  said.
In a commission   the director  would serve as the chairman and some sort of quorum would be required. More importantly  it would mean no one person would have nearly unlimited authority.
âThe Trump administration and Congress should use this opportunity to improve the CFPB by adding a bipartisan board so key decisions are made in a bipartisan and transparent manner with more than just one person involved " FSR CEO Tim Pawlenty said in a statement  following news of Cordrayâs resignation.
 [TGT] 's DOJ  took a stance against the CFPB  arguing the President should be able to remove the director at-will.   [TGT]   also recently signed legislation passed by Republicans that voided a controversial rule approved by the CFPB that would have prevented financial services companies from including class action waivers in their contracts.
âOnce there is a Director  or Acting Director  appointed by   [TGT] in place  there could be interesting results â  [TGT]  said.
âFor example  with a Director appointed by President Obama in place   the Trump administration  has advocated the position that the CFPB structure is not constitutional. With   [TGT] will  the Trump administration  back off that position?â
Same goes for consumer groups and Democrats  which have defended the current CFPB structure   he  said.
In a commission    [TGT] would serve as the chairman and some sort of quorum would be required. More importantly  it would mean no one person would have nearly unlimited authority.
âThe  [TGT]  administration and Congress should use this opportunity to improve the CFPB by adding a bipartisan board so key decisions are made in a bipartisan and transparent manner with more than just one person involved " FSR CEO Tim Pawlenty said in a statement  following news of Cordrayâs resignation.