Cordray Reiterates January Compliance, Sensitive Examination Even as Pressure for Extension Grows
October 24, 2013
Consumer Financial Protection Bureau Director Richard Cordray continues to show no sign of yielding to persistent industry pressure to delay the implementation date for rules the bureau promulgated in January that will transform the mortgage lending landscape. At the same time, he is again suggesting that the CFPB will be somewhat flexible in its examination of companies compliance with all the new rules, if they can demonstrate they genuinely tried to get with the program in time. Addressing the annual convention of the American Bankers Association in New Orleans on Monday, Cordray seemed...