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.

The U.S. Supreme Court this week will hear oral arguments on whether the leadership structure of the CFPB is constitutional.

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.”

It is widely expected that if a Democrat wins the presidential election, the new administration will once again strengthen the CFPB.

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.

CRA proposal comment period extended; enforcement against brokers charging high interest rates; CFPB advisory committee meetings; New York mortgage-related complaints; new servicing requirements.

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.

The consumer watchdog hiked its budget for 2020, taking its spending to levels last seen in 2017.

The CFPB late January sued Citizens Bank for alleged credit card errors. The lawsuit raises questions about consistency in the bureau’s enforcement strategy under its current leadership.

Before a district court in New York, the CFPB argued that its funding source, which falls outside the appropriations process, is constitutional. The case stems from a dispute arising out of a civil investigative demand.