Senate

Cordray Begins CFPB Director Confirmation Process 

Richard Cordray, President Obama's nominee for the Director of the Consumer Financial Protection Bureau (CFPB), is appearing before the Senate Banking Committee today as the the Senate confirmation process has begun.   In his opening remarks, Cordray intends to downplay the use of litigation in enforcing the regulations of the agency believing that lawsuits should be used judiciously.  He states that his experience as Attorney General for the State of Ohio has taught him that litigation can be slow and costly.  He seeks to use the various other powers available to the agency to resolve problems. "I quickly learned