Bank Challenger Picked to Run Consumer Agency
source: http://online.wsj.com/article/SB10001424052702303661904576451921505704258.html
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President Obama announced that he will nominate former Ohio Attorney General Richard Cordray to head the Consumer Financial Protection Bureau, created in response to the financial crisis of 2008.
Cordray has been chosen over Elizabeth Warren, who has been involved in setting up the bureau, and who has been deemed unlikely to win confirmation. However, Cordray faces confirmation challenges as well, as Senate Republicans have vowed to fight any nominee unless structural changes are made to the agency.
Cordray has been chosen over Elizabeth Warren, who has been involved in setting up the bureau, and who has been deemed unlikely to win confirmation. However, Cordray faces confirmation challenges as well, as Senate Republicans have vowed to fight any nominee unless structural changes are made to the agency.
