Senate Committee Approves Cordray CFPB Nomination

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We support reforms to the financial marketplace that protect consumers from unscrupulous banks and lenders.

Thursday, October 06, 2011

Senate Committee Approves Cordray CFPB Nomination

WASHINGTON, DC – The Senate Banking Committee today voted to approve the nomination of Richard Cordray to head the Consumer Financial Protection Bureau (CFPB). Consumers Union, the policy and advocacy division of Consumer Reports, praised the committee’s efforts.

Pamela Banks, senior policy counsel of Consumers Union, said, “We applaud the committee for moving forward to approve Richard Cordray as the head of this important consumer watchdog. We urge the full Senate to quickly follow suit and not block the nomination. This nation can ill afford to allow Wall Street’s interests to be placed above the interests of consumers. That’s why we need a strong CFPB with Richard Cordray at the helm so the bureau can use its full powers to fight the tricks and traps of the financial industry.”

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