New CFPB Director is Good News for Consumers, Firms, & US Economy
Center for Responsible Lending
January 4, 2012
The appointment of Richard Cordray as director of the Consumer Financial Protection Bureau is welcome news. Finally, the agency can run at full speed, policing the financial marketplace to make it fairer and more competitive. Mr. Cordray begins his job with overwhelming public support: by a 5 to 1 margin that cuts across party lines, Americans want Wall Street reform and a strong CFPB. By providing sensible oversight of both bank and non-bank financial firms, and promoting sounder choices in consumer financial products, the CFPB will help restore our economy and prevent another meltdown.
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About the Center for Responsible Lending
The Center for Responsible Lending is a nonprofit, nonpartisan research and policy organization dedicated to protecting homeownership and family wealth by working to eliminate abusive financial practices. CRL is affiliated with Self-Help, one of the nation's largest community development financial institutions.