FEDERALhearing transcript

Review of the CFPB Semi-Annual Report (March 2016)

Original title: THE SEMI-ANNUAL REPORT OF THE BUREAU OF CONSUMER FINANCIAL PROTECTION

January 1, 2018

consumer protection financial regulation CFPB banking oversight

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The Frame

What this does

The hearing provides a public record of the accountability and oversight process for the Consumer Financial Protection Bureau, which regulates financial products and services used by millions of Americans.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Consumer Financial Protection Bureau

The agency is subject to congressional oversight and must provide reports and testimony regarding its regulatory activities.

Financial Services Industry

The industry is subject to the regulations and oversight policies discussed and debated by the committee and the CFPB.

What changed

Last recorded activity January 1, 2018.

What's next

Next step not available in the current record.

Summary

This document is the transcript and record of a March 16, 2016, House Financial Services Committee hearing where CFPB Director Richard Cordray presented the agency's . The hearing served as an oversight session for members of Congress to question the Bureau's activities and regulatory actions.

Key Facts

The hearing took place on March 16, 2016, before the House Committee on Financial Services.
Richard Cordray, Director of the CFPB, appeared as the primary witness to discuss the Bureau's semi-annual report.
The document includes extensive written responses from Director Cordray to questions submitted by numerous members of the committee.
The record includes supplemental reports on fair credit compliance and dealer-financed car loans.
The hearing is part of the 114th Congress, Second Session, under Serial No. 114-78.

Why It Matters

Frequently Asked Questions

What is the purpose of this document?

It is the official record of a congressional hearing held to review the of the Consumer Financial Protection Bureau.

Who testified at this hearing?

Richard Cordray, the Director of the Consumer Financial Protection Bureau, was the primary witness.

News Coverage

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Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Extensive Written Oversight

The document contains a high volume of written responses to specific questions from committee members, indicating a rigorous oversight process regarding CFPB policies.

Consumer Financial Protection Bureau House Committee on Financial Services

Connected Entities

organizationHouse Committee on Financial Services“The congressional committee conducting the oversight hearing.”Map →

personJeb Hensarling“Chairman of the House Committee on Financial Services.”Map →

organizationConsumer Financial Protection Bureau“The federal agency responsible for consumer protection in the financial sector.”Map →

personMaxine Waters“Ranking Member of the House Committee on Financial Services.”Map →

personRichard Cordray“Director of the Consumer Financial Protection Bureau (CFPB) and primary witness.”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance60
How much this matters to a regular citizen
Controversy40
Intensity of disagreement among stakeholders
Entertainment10
Compellingness for a non-policy-wonk reader
Buzz5
Current news / social attention level

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