January 24, 2013

Statement from Sen Elizabeth Warren on re-nomination of Richard Cordray to lead the Consumer Financial Protection Bureau

"I am very pleased that the President has decided to re-nominate Rich Cordray as Director of the Consumer Financial Protection Bureau. I worked with Rich to set up the agency and believe he is a strong leader with a proven track record of fighting for consumers and pushing for a level playing field between big banks and smaller financial institutions like community banks and credit unions. The CFPB has had an extraordinary first year and a half - holding credit card companies accountable for cheating consumers and adopting the first set of rules to clean up the mortgage market. Senate confirmation of Rich's nomination will continue this momentum, benefitting families, establishing certainty, and safeguarding the economy as a whole from reckless and dangerous consumer lending."