GOP Staff: CFPB’s Cordray could be held in contempt over arbitration rule

In another shot fired at the CFPB, the Republican staff of the House Financial Services Committee says there is sufficient evidence to hold Director Richard Cordray in contempt of Congress for failing to comply with a committee subpoena for records dealing with the agency’s arbitration rule.

In a report released Friday, the GOP staff said the committee’s request for certain records dealing with agency decision-making has been outstanding for 471 days.

Republican committee staff members already have said that Cordray could be held in contempt of Congress over allegations that the agency failed to produce records the panel requested dealing with the CFPB’s Wells Fargo probe.


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