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SHURTLEFF LEADS SUPPORT FOR CONSUMER FINANCIAL PROTECTION BUREAU DIRECTOR
Utah Attorney General Mark Shurtleff and the attorneys general from 36 states and territories sent a letter to the U.S. Senate today supporting the nomination of former Ohio Attorney General Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB). The CFPB was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulates financial products and services.
“Mr. Cordray’s experience and balanced approach to the financial services industry and his service as Ohio’s Attorney General make him uniquely qualified to serve as the Director of the Consumer Financial Protection Bureau,” says Shurtleff.
President Obama nominated Cordray to become CFPB director in July and the U.S. Senate Committee on Banking, Housing and Urban Affairs voted 12-10 on October 6 to send the nomination to the full Senate.
“We are united in our belief that Mr. Cordray is very well qualified to carry out the responsibilities of this position,” the letters states. “For the past several months he has served as the CFPB’s director of enforcement. Immediately before taking that position, Mr. Cordray served two years as Ohio Attorney General. In both roles, he earned a reputation as a strong advocate for the interests of consumers. Mr. Cordray dealt with all the leading players, including Wall Street firms, banks, credit rating agencies and subprime mortgage lenders. In these actions he not only defended consumers but also worked to find fair and reasonable solutions for the financial industry.” A copy of the letter can be found here: http://www.naag.org/sign-on_archive.php.
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