Battle lines over Director Cordray’s future at the CFPB are predictably forming along party lines.  Earlier this week, two Republican senators sent a letter to Vice President-elect Pence urging Director Cordray’s removal by President-elect Trump.  Also earlier this week, a group of 21 Democratic members of the House Financial Services Committee, including ranking member Maxine

House Republicans are making another attempt to replace the CFPB’s director with a five-member commission.  A similar attempt passed the House early last year but did not reach a vote in the Senate.

H.R. 1266, introduced earlier this week by Republican Congressman Randy Neugebauer, is entitled the “Financial Product Safety Commission Act of 2015.” 

Two members of the House Committee on Financial Services, each of whom chairs a subcommittee, have sent a letter to Director Cordray asking a series of questions about the CFPB’s intended approach to rulemaking. Authored by Randy Neugebauer, Chairman of the Subcommittee on Oversight and Investigations, and Shelley Moore Capito, Chairman of the Subcommittee on