Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Outside adviser to Trump (Corey Lewandowski) calls for firing of CFPB head Cordray
Source: Reuters
#BUSINESS NEWS
JULY 30, 2017 / 2:18 PM / 4 HOURS AGO
Outside adviser to Trump calls for firing of CFPB head Cordray
Sarah N. Lynch and Susan Cornwell
WASHINGTON (Reuters) - An outside adviser to U.S. President Donald Trump called on Sunday for the firing of Consumer Financial Protection Bureau director Richard Cordray.
Corey Lewandowski, Trump's former campaign manager who still speaks regularly to the president, criticized a CFPB rule that would make it easier for consumers to sue financial companies. Currently, many consumers are required to settle disputes related to credit cards and other banking products through mandatory arbitration.
“It’s my recommendation to the president of the United States to fire Richard Cordray,” Lewandowski told NBC's "Meet the Press."
The CFPB is the brainchild of Massachusetts Democratic Senator Elizabeth Warren. Created by the 2010 Dodd-Frank Wall Street reform law, the bureau is charged with protecting consumers from predatory lending practices that were commonplace during the financial crisis.
Under current law, the president can only fire Cordray for cause. The legal burden to show cause is high, and Cordray's term does not expire until July 2018.
-snip-
JULY 30, 2017 / 2:18 PM / 4 HOURS AGO
Outside adviser to Trump calls for firing of CFPB head Cordray
Sarah N. Lynch and Susan Cornwell
WASHINGTON (Reuters) - An outside adviser to U.S. President Donald Trump called on Sunday for the firing of Consumer Financial Protection Bureau director Richard Cordray.
Corey Lewandowski, Trump's former campaign manager who still speaks regularly to the president, criticized a CFPB rule that would make it easier for consumers to sue financial companies. Currently, many consumers are required to settle disputes related to credit cards and other banking products through mandatory arbitration.
“It’s my recommendation to the president of the United States to fire Richard Cordray,” Lewandowski told NBC's "Meet the Press."
The CFPB is the brainchild of Massachusetts Democratic Senator Elizabeth Warren. Created by the 2010 Dodd-Frank Wall Street reform law, the bureau is charged with protecting consumers from predatory lending practices that were commonplace during the financial crisis.
Under current law, the president can only fire Cordray for cause. The legal burden to show cause is high, and Cordray's term does not expire until July 2018.
-snip-
Read more: http://www.reuters.com/article/us-usa-trump-cfpb-idUSKBN1AF0SK
2 replies
= new reply since forum marked as read
= new reply since forum marked as read
