7/15/2013

The Consumer Financial Protection Bureau appears to have no contingency plan to implement if the Supreme Court rules Director Richard Cordray's nomination unconstitutional, according to the office of Rep. Jeb Hensarling, R-Texas. Hensarling and CFPB general counsel Meredith Fuchs met in April and have communicated via letters about the issue. If Cordray's nomination is thrown out, "it will be pure chaos" for the agency, said Alan Kaplinsky, a partner at Ballard Spahr.

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