Rulemaking speed, transparency exhorted in Cordray, White hearing

The U.S. Senate Committee on Banking, Housing and Urban Affairs hammered home concerns about the structure and accountability of the Consumer Financial Protection Bureau and the slow pace of rulemaking at the Securities and Exchange Commission, during confirmation hearings for the two leadership posts on March 12. While CFPB Director Richard Cordray earned bipartisan praise for his work to date, Senators on both sides took the opportunity to vocalize their positions on the ongoing controversy surrounding the structure of the CFPB. Read on for details on the testimony by Cordray and SEC nominee Mary Jo White.