Monthly Archives: March 2014

Consumer Financial Protection Bureau Provides 2015 Budget Plan

One of the structural criticisms of the CFPB since its inception has been its budget, which is not allocated by Congress, but is transferred from the Federal Reserve System. For 2015, the CFPB estimates its budget will increase to $583.4 million, which is an increase of 2.4 percent from this year’s budget.  The CFPB recently […]

House Committee Demands CFPB Information on Indirect Auto Lending

Last Friday, Congressman Jeb Hensarling, Chair of the House of Representatives Financial Services Committee, demanded that CFPB Director Cordray provide information regarding the Bureau’s examination of fair lending violations in the context of indirect auto lending.  Through a detailed letter reciting numerous requests by members of Congress for such information, Mr. Hensarling demanded that the […]