Cordray Says Individuals Come Under CFPB's Scope

The head of the top U.S. consumer financial watchdog said his agency is committed to going after individuals, not just companies, when it punishes wrongdoers, reflecting a broader effort among enforcement officials to ensure penalties have real bite. Richard Cordray, director of the Consumer Financial Protection Bureau, told the Reuters Washington Summit on Wednesday that the agency also is seeking admissions of wrongdoing from bad actors who commit egregious violations. <more>