The appointment of Richard Cordray as director of the Consumer Financial Protection Bureau is welcome news. Finally, the agency can run at full speed, policing the financial marketplace to make it fairer and more competitive. Mr. Cordray begins his job with overwhelming public support: by a 5 to 1 margin that cuts across party lines, Americans want Wall Street reform and a strong CFPB. By providing sensible oversight of both bank and non-bank financial firms, and promoting sounder choices in consumer financial products, the CFPB will help restore our economy and prevent another meltdown.
For more information: Kathleen Day at (202) 349-1871 or kathleen.day@responsiblelending.org; Ginna Green at (510) 379-5513 or ginna.green@responsiblelending.org