Senate GOP Blocks Cordray as Head of Consumer Bureau
The Senate fails to move forward nomination of Richard Cordray as first director of the Consumer Financial Protection Board; GOP says director will wield too much power and that CFPB is unaccountable to Congress.
Senators Bash CFTC’s Gensler Over MF Global Collapse
Senate lawmakers took Gary Gensler, chairman of the CFTC, to task over failed brokerage firm MF Global and his decision on Nov. 5 to recuse himself from investigating the firm.
Shelby Slams FSOC, Questions Chances of Success
Sen. Richard Shelby, the ranking Republican on the Senate Committee on Banking, Housing and Urban Affairs, voiced skepticism on Thursday that the Financial Stability Oversight Council would find success.
Senate Banking Panel OKs Cordray to Lead Consumer Agency
The Senate Banking Committee on Thursday approved, by a party line vote of 12-10, the nomination of Richard Cordray as director of the Consumer Financial Protection Bureau. The nomination now goes to the full Senate.
Senate Banking's Shelby Floats Cost-Benefit Bill
Sen. Richard Shelby, R-Ala., ranking GOP member on the Senate Banking Committee, introduced a bill on Thursday that requires financial regulators, like the SEC, to provide rigorous and consistent economic analyses on new rules they propose.
Senators at Odds Over Cordray’s CFPB Nomination
Members of the Senate Banking Committee were at odds on Tuesday as to whether Richard Cordray is qualified to be the first director of the Consumer Financial Protection Bureau.
Obama Signs Debt Bill; Vows ‘Everything on Table’ for Future Talks
After the Senate passed the bill, 74-26, on Tuesday, President Obama signed the bill into law and said that deficit reduction would need a 'balanced approach' to succeed.
Dodd-Frank—One Year Later
With the recent one-year anniversary of the Dodd-Frank Act on July 21, members of Congress as well as industry officials have been reflecting on the law’s effects—for good or ill.
CFA Dodd-Frank Report: Law's Fate 'Hangs in the Balance'
The CFA released a Dodd-Frank progress report on Wednesday warning that further progress in implementing the law is threatened, in part, by congressional efforts to defund regulators.
In Senate, Battle Over New Consumer Protection Agency Continues
Two days before the agency is set to open its doors, GOP says it will block confirmation of CFPB chief until it gets a more ‘accountable’ structure.