The Consumer Financial Protection Bureau may not be popular with some conservatives, but the CFPB and its stealthily appointed Director Richard Cordray are here to stay, and the watchdog agency is kicking into action by making debt collectors and credit rating companies accountable for their actions.
Fearing a tough confirmation fight, the president declined to nominate Elizabeth Warren to head the consumer protection agency she invented. That’s a shame, writes The Boston Globe’s Steven Syre, who argues that the next choice won’t get confirmed either, and at least a nominated Warren “could have ...” (more)
Fearing a tough confirmation fight, the Obama administration has decided that Elizabeth Warren will not head the new Consumer Financial Protection Bureau. Instead, the White House will nominate Richard Cordray, who was already selected to be the agency’s top enforcer and who, in his previous gig as Ohio’s attorney general, had put himself on the map by suing big banks. (more)