Following the President’s appointment of Richard Cordray to lead the Consumer Financial Protection Bureau and help rein in predatory lenders, state and local officials across the country, including many of Cordray’s former Attorneys General colleagues, spoke out about the decision.
Maryland Governor Martin O’Malley:
“The CFPB now possesses the authority to ensure that payday lenders, debt collectors, and others no longer have free rein to deplete the financial health of our communities. With Richard Cordray's appointment, our states finally have a strong partner at the federal level to combat predatory and discriminatory lending.”
Massachusetts Governor Deval Patrick:
“Americans can’t wait any longer for protection from abuses in the financial markets. I applaud President Obama for taking action and appointing Richard Cordray to lead the Consumer Financial Protection Bureau. Richard Cordray is a highly qualified leader who has support from members of both parties and the credentials needed to protect homeowners, seniors and veterans from financial abuse. I wish him the best in this new position.”
California Attorney General Kamala Harris:
"American families finally have the consumer advocate we've needed for so long: Richard Cordray, the director of the Consumer Financial Protection Bureau…We're at a critical moment for the middle-class in America, and we urgently need strong oversight of our financial institutions and accountability for wrongdoing. Richard Cordray is the right person at the right time to get this job done and be a strong partner with state attorneys general."
New York Attorney General Eric Schneiderman:
"This is a major victory for American families seeking justice with the banks and other lending agencies at the heart of the financial crisis. The repeated procedural roadblocks that have blocked Richard Cordray's appointment represent the worst sort of partisan politics in Washington, and President Obama must be commended for taking action in the pursuit of meaningful protection for American consumers.
Fonte: White House