The Senate Banking Committee looked at consumer financial protection before and after the financial crisis, with a focus on lending practices. The committee aldo discussed President Obama’s nomination on Monday of former Ohio state Attorney General Richard Cordray to head the Consumer Financial Protection Bureau.
The CFPB was created as part of the Dodd-Frank financial regulations law. Witnesses include the head of the Center for Responsible Lending and a representative for the U.S. Chamber of Commerce. South Dakota Democrat Tim Johnson chaired the hearing.