Richard Cordray lead Consumer Financial Protection Bureau

Posted by MS on Wednesday, January 4, 2012

President Barack Obama announced today that he has appointed Richard Cordray as the first head of the new Consumer Financial Protection Bureau, the Los Angeles Times reported.


Because Obama appointed him while the Senate is in recess, Cordray, a former Ohio attorney general, does not need the Senate’s approval to step into the role.

Obama had nominated Cordray for the job last summer, but Senate Republicans blocked his confirmation, the LA Times reported.

“I am now the director and my work will be to protect American consumers,” Cordray said today, according to Bloomberg News. “I’m going to be 100 percent focused on that.”


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