Arizona PIRG Applauds President for “Bold and Important” Recess Appointment of Richard Cordray to Head New Consumer Financial Protection Bureau (CFPB)
Today, President Obama took a bold and important step to protect consumers from financial tricks and traps by announcing a recess appointment of his well-qualified nominee, Richard Cordray, to head the new Consumer Financial Protection Bureau. The confirmation of a director also grants the bureau, which has been running since July 2011, all of its new powers to protect consumers.
Statement of Diane E. Brown, Executive Director
Arizona PIRG
“Today, President Obama took a bold and important step to protect consumers from financial tricks and traps by announcing a recess appointment of his well-qualified nominee, Richard Cordray, to head the new Consumer Financial Protection Bureau. The confirmation of a director also grants the bureau, which has been running since July 2011, all of its new powers to protect consumers. We applaud President Obama for standing up to Wall Street and its backers on Capitol Hill on behalf of families, seniors, servicemembers, students and other consumers who need protection from unfair financial practices.
Fortunately, the President’s action guarantees that the CFPB, the first federal financial regulator with only one job, protecting consumers, will have all its powers to guarantee a level financial playing field for both consumers and fair-dealing firms.”
Authors
Diane Brown
Executive Director, Arizona PIRG
Diane E. Brown has worked with the State PIRGs for over 35 years, over half serving as the Executive Director of Arizona PIRG. She is a leader in efforts to protect consumers from unfair marketplace abuses and unsafe products; promote 21st century energy and transportation options; and foster an accessible and accountable government. Diane frequently works with diverse entities; advocates and testifies before elected and governmental officials; and appears on television and radio and in newspapers across the state. Diane’s leadership has helped to secure public interest victories at the Arizona Legislature, the Arizona Corporation Commission, and various state agencies. Diane is a recipient of awards from the Arizona Capitol Times, Phoenix Business Journal, League of Women Voters of Arizona, and Arizona League of Conservation Voters.
