January 10, 2012
Over 35,000 Americans have signed a petition opposing President Barack Obama’s recent appointment of Richard Cordray to the Consumer Financial Protection Bureau (CFPB), according to Legal Newsline.
The petition cites that Obama made the appointment without approval from the U.S. Senate. Republican senators from the Judiciary Committee have submitted a letter to U.S. Attorney General Eric Holder expressing concern about the move. In addition, the American Tort Reform Association (ATRA) has spoken out against the appointment.
Currently, private attorneys hired by Cordray to sue the three major credit rating agencies are appealing a ruling against them.
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