Thursday, July 20, 2017

CFPB Director Shows Contempt for Congress — President Trump Should Fire Him

Iain Murray

Add another one to the long list of reasons why President Trump should fire Richard Cordray, the Director of the Consumer Financial Protection Bureau. They include spending public money to create a palace for the Bureau, evidence of widespread discrimination against women and minority staffers, and the abuses of authority by the Director that were identified by a Federal Appeals Court in a recent case (which is currently being reheard).  The new reason is that House Financial Services Chairman Jeb Hensarling has identified “contumacy” on behalf of the Director in his refusal to answer a Congressional subpoena.

In a letter to the Director dated yesterday, Chairman Hensarling noted that over a year had passed since the Committee requested records from the Bureau to facilitate an investigation, and that a subpoena was issued on May 11 this year, to which no answer has been forthcoming.  The letter also put the Director on notice that any attempt to promulgate a rule on arbitration agreements (the subject of the Congressional investigation) before answering the subpoena would result in contempt proceedings.....To Read More.....

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