U.S. PIRG Commends President for Renomination of Richard Cordray to Head CFPB

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Statement of U.S. PIRG Consumer Program Director Ed Mierzwinski on the President’s renomination of Richard Cordray as director of the Consumer Financial Protection Bureau:

“U.S. PIRG commends President Obama for his renomination of the well-qualified Richard Cordray to a full term as director of the Consumer Financial Protection Bureau.

“The CFPB is the nation’s first financial regulator with only one job — to protect consumers in the marketplace. The Senate should reject demands by opponents of consumer protection to condition Cordray’s approval on the gutting of the agency’s authority or on the removal of its independent funding.

“Consumers and taxpayers need a strong CFPB to help prevent another Wall Street-caused financial and economic disaster enabled by weak or nonexistent regulation.”

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U.S. PIRG, the national federation of state Public Interest Research Groups, stands up to powerful interests whenever they threaten our health and safety, our financial security, or our right to fully participate in our democratic society. www.uspirg.org

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