Durbin Statement on Cordray Appointment

By  |  September 17, 2012
 | 

January 4, 2012

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Assistant Majority Leader, Senator Dick Durbin (D-IL), released the following statement today after President Obama announced that he will appoint Richard Cordray to head the Consumer Financial Protection Bureau:

    “After months of delay by Senate Republicans, Cordray’s nomination was called and defeated by a filibuster. Sadly, there were no objections to Cordray’s qualifications only a decision by Senate Republicans to cripple this agency and try to politically punish the President.

    “In appointing Richard Cordray to head the Consumer Financial Protection Bureau, President Obama has done what’s necessary to ensure American consumers are protected from the tricks and traps of big banks and have the information they need to make sound financial decisions.

    “Over the last three years, consumers have lost $17 trillion in household wealth and retirement savings. With today’s appointment, the President has put the interests of consumers ahead of partisanship, and the result will be a strong consumer watchdog agency that puts Main Street ahead of Wall Street.”

    Related: Obama to Bypass Senate and Install CFPB Chief

    Advertisement: Scroll to Continue


    See More In: