Consumer Victory: Richard Cordray Finally Confirmed As Consumer Financial Protection Bureau Director!

Huge win for consumers today.  After being blocked for two years, the Consumer Financial Protection Bureau (CFPB), has the Captain aboard ship!   The CFPB, by the way, was established by the 2010 law that overhauled federal financial regulatory powers following the Great Recession and was meant to be a flagship protection against further consumer abuse.  Republicans in Congress held up the appointment in an attempt to make President Obama weaken the financial independence and scope of power of the CFPB.    The Consumer’s Friend congratulates President Obama, Director Cordray,  Senate Majority Leader Harry Reid and Senator Elizabeth Warren for finally overcoming Republican opposition!