Cordray is Obama’s choice to lead Consumer Financial Protection Bureau

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Cordray is Obama’s choice to lead Consumer Financial Protection Bureau

Colubus Dispatch – President Barack Obama will nominate former Ohio Attorney General Richard Cordray to head a powerful new consumer protection agency, White House officials said.

At a White House event Monday, Obama will announce his choice of Cordray, 52, who is currently serving as director of enforcement for the new agency called the Consumer Financial Protection Bureau.

By picking Cordray, Obama hopes to avoid a bruising Senate confirmation battle that would have occurred had he selected Elizabeth Warren, the Harvard law professor who came up with the idea and ultimately helped to set up the agency.

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