The Sword of Damocles hung over his head during his last year at the helm of the bureau, former CFPB Director Richard Cordray disclosed in his new book.
Though it believes the CFPB’s leadership structure is unconstitutional, the Department of Justice in a new reply brief urged the Supreme Court to preserve the bureau for its “critical work.”
Brian Johnson, deputy director at the CFPB, has left the agency for a position at law firm Alston & Bird. His departure brings the tally of political appointees leaving the bureau to four.
A court settlement has forced the CFPB to outline proposed rulemaking on data collection requirements in the small-business lending space no later than September.
During a congressional oversight hearing, House Financial Services Committee members grilled CFPB Director Kathy Kraninger on the bureau’s interpretation of the abusiveness standard, plans to reform the qualified-mortgage rule and the controversial RESPA bulletin.