"The subpoenas sought records tied to the CFPB's successful efforts to ban mandatory arbitration clauses from financial contracts, including communications between CFPB staff and meetings with outside groups.
The ban, hailed by consumer advocates, was finalized in July but Republicans in Congress are working to overturn it.
Republicans demanded the documents as part of a probe into rulemaking, and whether the rules regarding mandatory arbitration clauses were written in a proper fashion.
Mandatory arbitration clauses require consumers to resolve any disputes through arbitration instead of joining together in class-action lawsuits.
Republican staff on the House banking panel had suggested in June that Cordray could face contempt charges for insufficient responses to congressional queries, but Friday's report took the conflict to new heights.
A committee spokesman, Jeff Emerson, did not immediately respond to a request for comment on whether the panel would actually seek contempt charges.
In response to the report, CFPB spokeswoman Jen Howard said the agency had already produced "thousands of pages" in response to the requests and was endeavoring to do more.
"We will continue our efforts to understand how we can respond to the committee in a satisfactory manner," she said in a statement to Reuters.
In the past, Cordray has criticized similar panel subpoenas as overly broad and confusing.
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The ban, hailed by consumer advocates, was finalized in July but Republicans in Congress are working to overturn it.
Republicans demanded the documents as part of a probe into rulemaking, and whether the rules regarding mandatory arbitration clauses were written in a proper fashion.
Mandatory arbitration clauses require consumers to resolve any disputes through arbitration instead of joining together in class-action lawsuits.
Republican staff on the House banking panel had suggested in June that Cordray could face contempt charges for insufficient responses to congressional queries, but Friday's report took the conflict to new heights.
A committee spokesman, Jeff Emerson, did not immediately respond to a request for comment on whether the panel would actually seek contempt charges.
In response to the report, CFPB spokeswoman Jen Howard said the agency had already produced "thousands of pages" in response to the requests and was endeavoring to do more.
"We will continue our efforts to understand how we can respond to the committee in a satisfactory manner," she said in a statement to Reuters.
In the past, Cordray has criticized similar panel subpoenas as overly broad and confusing.
breaking-news logo
