Skip to main content

Newsroom

January 17, 2012

CFPB Chief Cordray Will Have a Big Voice at FDIC

Richard Cordray is center stage not just at a brand-new regulator. The director of the Consumer Financial Protection Bureau will also play a crucial role at an agency born of bank runs and the Dust Bowl.

Under the Dodd-Frank Act, the CFPB director sits on the Federal Deposit Insurance Corp. board of directors. That means Cordray, whom President Obama recess-appointed over GOP objections, will vote on a broad array of supervisory issues from the Basel capital regime to the proprietary trading ban known as the Volcker Rule.

Like everything CFPB-related, Cordray’s FDIC seat is turning heads. Critics of the bureau question what he will add to a board with a focus on safety and soundness regulation, while others say a consumer-oriented perspective has value.

Meanwhile, some say the controversy surrounding his hiring could have repercussions not just for the CFPB but also the FDIC.

Read story here

In the News
Share

MEDIA REQUESTS

For media inquiries, please contact us at
press@bettermarkets.org or 202-618-6433.

Contact Us

For media inquiries, please contact press@bettermarkets.org or 202-618-6433.

To sign up for our email newsletter, please visit this page.

Name(Required)
This field is for validation purposes and should be left unchanged.

Sign Up — Stay Informed With Our Monthly Newsletter

This field is for validation purposes and should be left unchanged.

For media inquiries,

please contact press@bettermarkets.org or 202-618-6433.

Donate

Help us fight for the public interest in our financial markets, protecting Main Street from Wall Street and avoiding another costly financial collapse and economic crisis, by making a donation today.

Donate Today