July 17, 2013
Washington, DC—The National Consumers League welcomed the U.S. Senate’s vote to confirm Richard Cordray as Director of the Consumer Financial Protection Bureau. “The Senate acted to protect the interests of millions of American consumers by voting 66-34 in favor of Richard Cordray’s confirmation to Director of the CFPB. This vote of support is long overdue. Cordray is an unusually talented and committed public servant who can now lead the charge at the Bureau in protecting the financial interests of consumers and do so with full backing of Congress behind him.”
NCL also praised Senate Majority Leader Harry Reid and other senate leadership for overcoming partisan obstacles blocking the Cordray confirmation. “Senator Reid deserves enormous credit for strategically moving the Cordray nomination to a successful vote. Consumers owe him a debt of gratitude."
CFPB regulates financial services and products in the US. Its work includes policing tricks and traps too often found when consumers interact and sign contracts with financial institutions, including debt collection, banking, credit repair, payday lending, and student loans.
About the National Consumers League
The National Consumers League, founded in 1899, is America's pioneer consumer organization. Our mission is to protect and promote social and economic justice for consumers and workers in the United States and abroad. For more information, visit www.nclnet.org.