Richard Cordray Appointed to Head CFPB: Consumers to get much needed protections

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

By Consumers Union on Wednesday, January 4th, 2012

DYD applauds the news that Richard Cordray will be appointed to serve as the director of the Consumer Financial Protection Bureau. While Cordray has received bipartisan praise, his appointment has been held up for months in the Senate, where opponents of the CFPB demanded changes be made to weaken the bureau. The absence of a full-time director has prevented the CFPB from exercising its full authority to protect consumers. The consumer watchdog has been muzzled by the political process for way too long. Today’s appointment means the CFPB finally will be able to protect you from unscrupulous lenders, financial scams and other rip-offs.

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