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Released: September 06, 2011
Consumer protection nominee promises cooperation
Source: Associated Press, N.Y.Times (Free Registration)
President Barack Obama’s nominee to head the new Consumer Financial Protection Bureau is promising to be accountable to Congress and is playing down the lawsuits his agency will be able to file against banks and other financial institutions.
Even so, Richard Cordray’s chances of winning Senate approval to lead the agency remained uncertain. Republicans have promised to block any nominee to head the agency unless the bureau is changed in ways they say will make it more accountable. Democrats say those changes would weaken its powers.
Read Full Article: Consumer protection nominee promises cooperation
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