Richard Cordray

CFPB Doors Officially Open 

The Consumer Financial Protection Bureau (CFPB) is officially open for business as of July 21, 2011, opening with the launch of a new resource for consumer to file credit card complaints. On the same day as the launch, the House passed H.R. 1315 a bill designed to increase accountability and oversight over the bureau.  The bill seeks to delay the CFPB's ability to assume their full regulatory authority until a Senate confirmed director is in place, while also striving to change the leadership from a single director to a five-person commission.  It also provides for a regulatory review process