CFPB’s Cordray Grilled By House Financial Services Committee

CFPB’s Cordray Grilled by House Financial Services Committee

House Financial Services Committee Chairman Jeb Hensarling began yesterday’s 2016 Semi-Annual Reports of the CFPB hearing by calling for bureau Director Richard Cordray’s termination.
“As you are well aware, the president, under the PHH case, can dismiss you at will, under Dodd Frank you can be removed for cause. Either way, I believe that president is clearly justified in dismissing you,” Hansarling said. “I call upon the president — yet again — to do just that, and to do it immediately.”
The chairman’s opening remarks set the tone for often-heated hearing — which lasted more than five hours — with many members …

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