There is little mystery as to why banks might choose to "remain silent" at this stage. They do not want to subject themselves to overtly political attacks, or be used in an obvious political stunt by Senator Warren. Senator Warren's requests for a mountain of information from these banks suggest that the information gathered to date by the CFPB is lacking and that the resolutions under the Congressional Review Act are warranted. The fact that the Senator feels it necessary to ask these…

The conclusion reached by the Division of Economic and Risk Analysis - that there is no clear link between the Volcker Rule and decreased liquidity - contrasts sharply with the recent , which concluded that the rule's "implementation has hindered marketmaking functions necessary to ensure a healthy level of market liquidity." Similarly, a September 2016 found that the Volcker Rule has had a "deleterious effect" on corporate bond liquidity. According to that study, dealers that are subject…

Agree or disagree with the policies of Mr. Cordray, it is just impossible to figure out how the CFPB fits within the structure of the government as established by the U.S. Constitution. The government has three branches: the Legislative (Article 1), the Executive (Article 2) and the Judicial (Article 3). Where does the CFPB fit into that structure? It seems troubling that the CFPB is not responsible to any of the branches. That is not a good way to run a railroad or a government. On that…

Maybe he didn't "disregard" his wife's instruction. Maybe he just forgot what she said.