Former Ohio Attorney General to Head New Consumer Agency By BINYAMIN APPELBAUM
Published: July 17, 2011

WASHINGTON — President Obama said Sunday that he would nominate Richard Cordray, the former attorney general of Ohio, to lead the new Consumer Financial Protection Bureau, passing over Elizabeth Warren, the Harvard law professor who was the driving force behind the agency’s creation.

Mr. Cordray came to national attention for his aggressive investigations of mortgage foreclosure practices while he was attorney general. He is already an employee of the watchdog agency, which starts formal operations on Thursday, as the leader of its enforcement division.

“Richard Cordray has spent his career advocating for middle-class families, from his tenure as Ohio’s attorney general to his most recent role as heading up the enforcement division at the C.F.P.B. and looking out for ordinary people in our financial system,” Mr. Obama said in a written statement. He is expected to formally announce the nomination on Monday.

Any Ohio'ans out there with an opinion on this fellow?

On the one hand, thankful it is not Warren. On the other, I remain skeptical of the agency itself, no matter who the head is.

Or, the critics will have their way and form a committee to run it and nothing will get done!

He is a fast rising Demo from Central Ohio. He loss some of his early elections (treasurer/auditor/city council), but then took off like wild fire.

IMHO, He is liberal with an eye for consumer afairs, who is out to make a name for himself, so I am skeptical of him.

oh boy.

Thankfully, since the general public doesn't know him, we may avoid for a little while the cult of personality building around Elizabeth Warren. Facebook has loads of comments like this:

A number of legislators have indicated they will not confirm any nominee to the position, but will insist on a committee to run the CFPB. Could Cordray be Obama's stalking horse to test that resolve, with the real nominee (the Professor) in waiting until the polls indicate the populace is upset with Congress and wants them to approve BO's nominee?

Or am I just too cynical?

Cordray is a five time Jeopardy winner. Awesome.

Beats Roger Clemens, who at the moment is only a one-time jeopardy winner.

The good news is that the WSJ editorial staff said yesterday that Cordray is politically left of Liz. I didn't think that was possible - like being one more than infinity.

Harvards loss is our gain

Treasury Department Announces Plans for Leadership Transition at the Consumer Financial Protection Bureau

WASHINGTON – Today, the U.S. Department of the Treasury announced that Raj Date would replace Professor Elizabeth Warren as Special Advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau (CFPB), effective August 1.

http://www.treasury.gov/press-center/press-releases/Pages/tg1258.aspx


Date spent more than a decade in the financial industry and has worked at Capital One Financial and Deutsche Bank.

http://www.reuters.com/article/2011/06/08/us-financial-regulation-consumer-idUSTRE7576EJ20110608

Awesome. Roger Clemens should run the CFPB. Instead of CMPs, you have to crowd the plate while he throws inside fastballs.

I read an MSNBC piece on Cordray yesterday, interesting guy. Some seem to think he will get in via recess appointment, but he's made no secret of his desire to run for governor in Ohio so he's not likely to be around long. In any case, I doubt anyone's going to get Senate confirmation to head the CFPB.