Banking and Finance Law Daily Wrap Up, CONSUMER FINANCIAL PROTECTION BUREAU—Duffy letter to President suggests Cordray resign over whistleblower allegations, (Apr 9, 2014)

By J. Preston Carter, J.D., LL.M.

Following the recent House Financial Services Subcommittee on Oversight and Investigations hearing to examine allegations of discrimination and retaliation at the Consumer Financial Protection Bureau, Rep. Sean Duffy (R-Wis) sent a letter to President Obama calling on him to address the issue immediately or ask CFPB Director Richard Cordray to resign and be replaced with a “professional who will not tolerate or cover up this kind of behavior.”

Duffy stated that the testimony described an “environment of racism and sexism at the CFPB” and that the witness claimed Cordray asked her to “back down” in exchange for help securing her a new position (see Banking and Finance Law Daily, April 3, 2014).

According to Duffy, he sent the letter recounting the testimony because “President Obama often claims he was ‘unaware’ of misconduct or mismanagement within his Administration.”

LegislativeActivity: CFPB CrimesOffenses