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Thursday, June 20, 2013

CFPB Director Cordray Speaks to Exchequer Club

CFPB Director Richard Cordray spoke to the DC-Based Exchequer Club yesterday at a lunch event. Director Cordray focused on the rulemaking process. He discussed at length the conflict between allowing flexibility for the regulators and needing certainty to run a business, commenting that, "agencies are sometimes derided for writing long and complicated rules, but the plain truth is that many businesses prefer comprehensive rules that answer more questions up front, leave less terrain undefined and uncertain, and minimize the prospect of protracted and costly litigation."

Read his speech