President’s Recess Appointment of Cordray Gives Watchdog Teeth It Needs
Ed Mierzwinski – Consumer Advocate, US PIRG
Posted: 1/8/12 05:15 PM ET Kudos to President Obama for standing up for consumers this week by making a recess appointment of former Ohio Attorney General Richard Cordray to head the new Consumer Financial Protection Bureau. The President’s action clarifies that the CFPB now has all its powers to protect the public from unfair financial practices, whether by banks or other financial firms, such as payday lenders and credit bureaus.
