In The News 18 July 2011

Obama nominates former Ohio attorney general to lead Consumer Financial Protection Bureau

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Former Ohio Attorney General Richard Cordray has been nominated by President Obama to lead the new Consumer Financial Protection Bureau.

Currently, Corday is the director of enforcement of the bureau.

According to a news release, Obama said he picked Cordray because the former Ohio attorney general spent his career as an advocate for middle class families.
 
The bureau is set to open this week.

It was established by the 2010 Dodd-Frank financial regulatory overhaul to fill in the gap in oversight of financial products such as mortgages and credit cards.[[In-content Ad]]

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