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Four Trade Groups Ask Lawmakers to Instate Five-Person Board to Lead CFPB

Four associations representing 12,000 banks and credit unions have asked Senate leaders to consider replacing the Consumer Financial Protection Bureau’s single-director structure with a five-person bipartisan commission next year.

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103 Lawmakers Call on CFPB to Eliminate Mandatory Arbitration

On Wednesday, more than 100 members of Congress called on the Consumer Financial Protection Bureau (CFPB) to proceed with its effort to eliminate forced arbitration.

NADA Urges Dealers to Oppose Recall Amendment

An amendment rejected by the Senate Commerce Committee last week that would have barred dealers from selling recalled vehicles could be attached to a multi-year highway funding bill, the NADA warns.

Senator Proposes Amendment to Reign In ‘Rogue’ CFPB

Proposed last week, an amendment to the Senate’s 2015 Budget Resolution would give Congress oversight of the CFPB, which currently has a budget of about $600 million and operates under the Federal Reserve.

FTC: Sunday Auto Sales Ban Harms Competition

The Federal trade Commission issued a letter last week in support of legislation that would overturn Illinois’ long-standing ban on Sunday car sales. Dealers in the state, however, remain steadfastly opposed to the bill.

Disparate Impact Challenge Ends in Settlement on Eve of CFPB Forum

On the eve of the CFPB’s first public forum on auto lending, a town council in New Jersey unanimously votes to settle a lawsuit centered on the disparate impact theory.

John Deere Files Injunction to Halt N.H. Dealer-Protection Bill

John Deere and other heavy equipment manufacturers say amendment to New Hampshire’s Dealer Bill of Rights wrongfully groups them with auto manufacturers. They filed an injunction to halt the bill from taking effect later this month.

Senate Confirms Richard Cordray as CFPB Director

The U.S. Senate confirmed Tuesday evening the appointment of CFPB Director Richard Cordray, a decision President Barack Obama praised during a press conference held yesterday.

Senate Committee Approves Cordray's CFPB Nomination by Narrow Margin

In a party line vote, the Senate Banking Committee approved the nomination of Richard Cordray to his five-year term as director.

Cordray Nomination Hearing Held

Senate Banking Committee Chairman Tim Johnson advocated for Consumer Financial Protection Bureau Director Richard Cordray to retain his position at a hearing March 12. A vote on the nomination will be held at a later date.