Congresswoman Jackie Speier (D-CA) today released the following statement in response to President Obama’s nomination of Richard Cordray to lead the Consumer Financial Protection Bureau (CFPB).
“Richard Cordray is a sound choice. He has spent his career fighting for consumers first as Attorney General of Ohio and most recently as director of enforcement for the CFPB. But make no mistake—American consumers are losing perhaps their greatest champion in Elizabeth Warren. She will always be the mother of the CFPB and its biggest advocate. The treatment she has received from Congressional Republicans has been disgraceful.
“The 2008 financial crisis showed that American families need a cop on the beat when it comes to consumer protection around mortgages, credit cards, and other financial products. Instead of considering a bill to weaken the CFPB as Republicans will this week, they should support Mr. Cordray’s swift confirmation so he can begin this important work. Consumers have waited long enough.”