Former Ohio AG nominated to head CFPB

President Obama is nominating Richard Cordray to be director of the Consumer Financial Protection Bureau. Cordray, currently the lead enforcement officer at the CFPB, is a former attorney general for the State of Ohio and he has a reputation as a fierce enforcer of the law against lenders. As A.G., he filed lawsuits against GMAC Mortgage, Merrill Lynch, and loan servicers.

Published July 2011

CFPB ready to be ‘cop on the beat’

"Starting on July 21, we will be a cop on the beat -- examining banks and protecting consumers," said Elizabeth Warren, Harvard professor and special adviser to the Treasury Secretary, in a July 12 Treasury Department press release. As acting head of the Consumer Financial Protection Bureau, Warren outlined the agency’s big bank supervision approach beginning July 21.

Published July 2011

Who’s involved in the Federal Stability Oversight Council

President Obama has nominated S. Roy Woodall, who recently retired from the Treasury Department as a senior policy analyst, to serve on the Federal Stability Oversight Council (FSOC). Woodall is also a former insurance commissioner for Kentucky and an insurance consultant for the Congressional Research Service.

Published July 2011

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