Bloomberg Law
March 17, 2017, 9:54 PM UTC

Trump Administration OK With CFPB but Wants Power to Oust Chief

Bloomberg Media

By Andrew Harris, Bloomberg News

President Donald Trump’s administration told a U.S. appeals court that it wants the power to fire Consumer Financial Protection Bureau Director Richard Cordray, but that doesn’t mean it wants the agency disbanded.

The Justice Department staked out that position Friday in court documents filed at the U.S. Court of Appeals in Washington, which is getting ready to rehear a case challenging the authority of the CFPB and the man who leads it.

The administration position is close to that of PHH Corp., the Mount Laurel, New Jersey-based mortgage company that sued to overturn a $109 ...

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