Released: January 04, 2012

Consumer Action applauds President Obama for CFPB recess appointment

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Consumer Action is proud to see President Obama stand up to an obstructionist Senate today and appoint former Ohio Attorney General Richard Cordray director of the CFPB while the Senate is in recess.

"With a director in place, the Consumer Financial Protection Bureau (CFPB) can finally provide fair and equal oversight to the marketplace," said Linda Sherry, director of national priorities for Consumer Action. "The CFPB can now fully fight for and protect consumers on the financial front. Consumers have been waiting far too long for this financial watchdog to have the authority to really sink its teeth into creating a better financial marketplace for all people—not just the One Percent."