President Obama in a statement on Sunday said Cordray "has spent his career advocating for middle class families, from his tenure as Ohio's attorney general to his most recent role as heading up the enforcement division at the CFPB and looking out for ordinary people in our financial system."
Source: The Atlantic Wire
As the article points out, this comes as a heavy blow to Elizabeth Warren, who basically created the bureau and has spent the last four months doggedly holding it together. But Cordray did a pretty excellent job in terms of consumer affairs while he was the Ohio AG, so I have no doubt that he'll make a capable bureau director.
Congratulations to Richard Cordray!




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