Menendez Applauds Cordray's Renomination As Consumer Financial Protection Bureau Director
Urges Cordray’s swift Senate confirmation to a five-year term
January 25, 2013
WASHINGTON, DC — U.S. Senator Robert Menendez (D-NJ), Chairman of the Banking Committee’s Subcommittee on Housing, Transportation, and Community Development, today released the following statement in reaction to President Barack Obama’s nomination of Richard Cordray to a full five-year term as Director of the Consumer Financial Protection Bureau.
“Richard Cordray has proven his clear qualifications to lead the Consumer Financial Protection Bureau during the agency’s first year. In his short time as Director, Cordray has won respect from both sides of the aisle for his fairness and his common-sense approach to protecting consumers from the predatory mortgage lending that caused the nation’s financial crisis,” said Senator Menendez.
“I also support his work to protect consumers from abusive credit card and prepaid card practices, two areas on which I have authored legislation. I intend to reintroduce the Prepaid Card Consumer Protection Act in the new Congress and look forward to working with Director Cordray on that issue. I enthusiastically applaud President Obama’s nomination of Richard Cordray to a full five-year term as director, and urge my colleagues in the Senate to swiftly confirm his appointment.”
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