Tag Archives: Campaign for America’s Future

Following months of anticipation among critics and admirers alike, the Consumer Financial Protection Bureau formally opened its doors Thursday, taking over rule-writing and enforcement abilities for 18 consumer financial laws, preparing a host of new regulators, and assuming an array of powers provided by the Dodd-Frank Act. The launch notwithstanding, a tied-up confirmation process, scale-up difficulties, and stiff political opposition from the past year hold the CFPB back, making some wonder how the bureau will function.

Following his nomination Monday, lawmakers and trade associations continue to greet Consumer Financial Protection Bureau director-nominee Richard Cordray stiffly, with spokespeople accepting his new role lukewarmly.

President Barack Obama announced Sunday that he would withdraw Treasury Department advisor Elizabeth Warren for the top post at the Consumer Financial Protection Bureau and replace her with Richard Cordray.