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CFPB director Cordray may have violated federal law, House Republicans say

( January 18, 2017, 22:36 GMT | Official Statement) -- MLex Summary: US Consumer Financial Protection Bureau Director Richard Cordray may have violated federal law that governs agency rulemaking procedures, according to a report by Republican members of the House Financial Services Committee. The report alleges Cordray failed to heed CFPB attorneys who advised him to publish a list of institutions the bureau believed would be subject to a proposed rule and to re-open the public comment period after it had closed. The report also claims the CFPB's use of the "disparate impact" legal theory in enforcement actions against auto financers would not survive judicial scrutiny.Statement follows....

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