senate banking committee

The Senate Banking Committee’s Subcommittee on Financial Institutions and Consumer Protection will hold a hearing on Wednesday, July 17 entitled “Shining a Light on the Consumer Debt Industry.”  The scheduled witnesses are Corey Stone, CFPB Assistant Director, Office of Deposits, Cash, Collections, and Reporting Markets, and Reilly Dolan, FTC Acting Associate Director, Division of Financial

The only new item of information revealed by Director Cordray during his appearance yesterday before the Senate Banking Committee hearing (in response to a question from Senator Elizabeth Warren) was that he feels “quite sure” that  at least “some” of the results of the CFPB’s study of consumer arbitration will be publicly released this year.

The Senate Banking Committee has announced that on April 23, 2013, it will conduct a hearing on the CFPB’s third Semi-Annual Report to Congress.  CFPB Director Richard Cordray is the only witness scheduled to appear.

According to the Consumer Bankers Association, Director Cordray is likely to be questioned about the CFPB’s data collection efforts.  Those