As House Holds Oversight Hearing, 340 Groups Call For Defense of CFPB (Ed Mierzwinski, US PIRG)

Last week, I captured a photo of the President, with CFPB architect and now U.S. Senator Elizabeth Warren (MA) directly behind him, as he gave a well-deserved shoutout to the CFPB and its director Rich Cordray (far right) at an event launching a new initative to protect retirement savings against Wall Street tricks.obamashoutouttocfpb23Feb15

Today, Consumer Financial Protection Bureau Director Richard Cordray will present the CFPB’s sixth Semi-Annual Report to Congress at a hearing of the full House Financial Services Committee (2:30 PM ET), whose majority members have often been harsh critics of the successful consumer agency… [P]owerful special interests, including the banks and credit unions and their many trade associations, as well as payday and high cost lenders, financial services lawyers and lobbyists, debt collectors and credit bureaus, mortgage companies, for-profit trade schools and auto finance companies, joined by generally coin-operated “free market” think tanks and other special interests, continue to try to rev up Congressional opposition to the CFPB.

 

Originally posted on US PIRG.

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