Buckley Webcast: CFPB Tomorrow and Beyond - The Bureau’s Future Under New Leadership
Buckley partner Jonice Gray Tucker discussed what lies ahead for the Consumer Financial Protection Bureau, consumers, and the financial services industry following the resignation of Director Richard Cordray. In addition to taking your questions, we discussed:
- Who will replace Cordray as the CFPB’s director in the short term and the long term? Who gets to decide?
- What does the leadership change mean for the bureau’s regulations? Are discretionary rules on payday loans and prepaid cards different than statutory rules like TRID, ability-to-repay/qualified mortgage, and mortgage servicing?
- Will the change affect CFPB examinations, investigations, and litigation? Will states become more active?
- Are the disputes regarding the CFPB’s constitutionality and the related PHH litigation still relevant?
- How does this affect the prospects for CFPB reform in Congress?