The Financial Services Roundtable says it will support the confirmation of Richard Cordray to lead the Consumer Financial Protection Bureau (CFPB), provided Congress makes changes to CFPB’s structure.
“Our members strongly believe the CFPB should operate under a more democratic structure, with a board instead of a single director, as well as be subject to a more accountable system of funding. The Financial Services Roundtable urges Congress to take swift action on these structural changes, in concert with confirmation of Richard Cordray,” said Tim Pawlenty, president and CEO of the FSR.
The group represents 100 large banking, insurance and investment firms.
Republicans have vowed to block Cordray’s confirmation unless changes are made to the CFPB.
Was this article valuable?
Here are more articles you may enjoy.
Oil Trader CFOs Say Hormuz Closure Driving Wave of Disputes 
Viewpoint: Japan’s $550B Bet on America—What it Means for the US Insurance Market 
Amish Mother and 6 Children Killed in Explosion and Fire at Pennsylvania Home 
Chubb Q1 Net Income Increases 74% on Fewer Catastrophe Losses 
