STAKEOUT TODAY: Bipartisan Group of Attorneys General to Renew Call for Confirmation of Richard Cordray to Lead CFPB
WASHINGTON, DC – Today, a bipartisan group of attorneys general from across the country will renew their call for the Senate to confirm Richard Cordray to lead the Consumer Financial Protection Bureau (CFPB). A CFPB without its full authorities is hamstrung in its ability to help level the playing field between small banks and nonbank financial service providers. For too long, banks were playing by one set of rules, while other parts of the financial industry, like some payday lenders or independent mortgage brokers, were playing by another, often with little or no oversight. Earlier this fall, 37 attorneys general from across the country urged the Senate to confirm Richard Cordray, former Attorney General of Ohio, to lead the CFPB. Their letter is here.
On Thursday, the Senate will vote on the nomination of Richard Cordray to lead the CFPB. Cordray has spent his career fighting for middle class families and finding solutions that help consumers, and he has seen bipartisan support from people around the country. However, some Senate Republicans have vowed to block his nomination without raising question about his qualifications or background – and their opposition puts consumers at risk. A White House NEC report on the importance of a Consumer Financial Protection Bureau Director is available here. The following attorneys general will be at the White House today:
Maryland Attorney General Douglas Gansler
Mississippi Attorney General Jim Hood
North Carolina Attorney General Roy Cooper
Utah Attorney General Mark Shurtleff