Thursday, October 06, 2011
WASHINGTON, DC – The Senate Banking Committee today voted to approve the nomination of Richard Cordray to head the Consumer Financial Protection Bureau (CFPB). Consumers Union, the policy and advocacy division of Consumer Reports, praised the committee’s efforts.
Pamela Banks, senior policy counsel of Consumers Union, said, “We applaud the committee for moving forward to approve Richard Cordray as the head of this important consumer watchdog. We urge the full Senate to quickly follow suit and not block the nomination. This nation can ill afford to allow Wall Street’s interests to be placed above the interests of consumers. That’s why we need a strong CFPB with Richard Cordray at the helm so the bureau can use its full powers to fight the tricks and traps of the financial industry.”
David Butler or Kara Kelber 202-462-6262; or Michael McCauley 415-431-6747, ext 126