Cordray agrees to testify on appointment

January 12, 2012

Cordray agrees to testify on appointment

Jan. 12, 2012 - Consumer Financial Protection Bureau Director Richard Cordray has agreed to testify Jan. 24 before a House subcommittee on his recent appointment to the bureau.

Rep. Patrick McHenry, R-N.C., who chairs the House Oversight Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs, invited Cordray to appear before the panel. A subcommittee spokeswoman confirmed yesterday that Cordray has agreed to appear before the panel.

The president appointed Cordray to lead the CFPB on Jan. 4 during a three-day congressional break, a move that has drawn the ire of some lawmakers, including McHenry. "The unprecedented appointment of Mr. Cordray runs counter to the constitutional requirements for a recess appointment . . .," McHenry said following Cordray's appointment.

Republican lawmakers have stalled Cordray's appointment in the past in favor of replacing the CFPB director position with a bipartisan, five-member commission.

NAFCU would prefer to see a bipartisan, five-member commission in charge of the bureau rather than a single individual. And while NAFCU believes that the new CFPB director is open to hear the views of credit unions, the association has also long maintained that the CFPB should not have oversight authority over credit unions.

NAFCU will monitor this hearing and report its developments to its member credit unions.

Related Resources

April 24, 2024 Add to Calendar 2024-04-24 14:00:00 2024-04-24 14:00:00 Optimize Liquidity, Maximize Loan Growth: The Network Lending Advantage About The Webinar Join us to learn more about network lending, a cooperative model allowing credit unions to optimize liquidity and achieve loan growth. Discover how credit unions can participate in loan pools with other institutions, allowing them to diversify portfolios, access loans with potentially lower risk and higher yields, and expand lending capacity without necessarily needing a surge in deposits. Delve into how credit unions can pool their resources, set common underwriting and pricing standards, and collectively originate, buy, and sell loans to optimize liquidity management. Hear from your peers about best practices, case studies, and practical strategies to harness the full potential of network lending and how it's helped their credit unions. Don't miss this valuable opportunity to learn how to strengthen your credit union's position in today’s competitive environment. Key Takeaways: How network lending differs from traditional lending The benefits of participating in loan pools with other credit unions How credit unions can set common underwriting and pricing standards and collectively originate, buy and sell loans to optimize liquidity management Why network lending is critical to loan growth Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public

Optimize Liquidity, Maximize Loan Growth: The Network Lending Advantage

preferred partner

LendKey

Webinar

April 23, 2024 Add to Calendar 2024-04-23 14:00:00 2024-04-23 14:00:00 Monitoring the Latest Litigation Risks Credit unions’ operations pose litigation risks, with more of these cases being filed as class action lawsuits. In this Monitoring the Latest Litigation Risks for Credit Unions webinar, you’ll review some of the specific kinds of lawsuits impacting credit unions and what potential claims could be on the horizon. You’ll also examine some options for mitigating risks. Key Takeaways Review the current lawsuit trends. Understand the potential claims risks Explore options for mitigating risks. Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until April 23, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCCOs NCRMs Compliance and risk titles Education Credits NCRMs will recieve 1.0 CEUs for participating in this webinar NCCOs will recieve 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public

Newsroom