Cordray answers charges that CFPB didn't take lead on Wells Fargo scandal

During a heated exchange in the Consumer Financial Protection Bureau’s semi-annual hearing in front of the House Financial Service Committee, Rep. Ann Wagner, R-Mo., grilled Director Richard Cordray on the bureau’s lack of initiative in the massive Wells Fargo fake account scandal. Wagner focused the brunt of her time on creating a timeline of events to prove her case that the bureau just stood by during the Wells Fargo scandal. In her words, the bureau was asleep at the wheel.