Washington DC – Oregon’s Senator Jeff Merkley released the following statement after the nomination by President Obama of Richard Cordray to be the first Director of the Consumer Financial Protection Bureau.
“I first want to thank Elizabeth Warren for her hard work getting the Consumer Financial Protection Bureau up and running. This was her brainchild, and she has done an excellent job.
“I applaud the Obama Administration for moving to fill this very important position. Richard Cordray had a good track record as Ohio’s Attorney General, and I look forward to speaking with him and discussing his ideas on how to bring fairness, accountability, and transparency back into the financial system.
“We’re still paying a heavy price as a nation for our failures of oversight in the financial sector, and the sooner we have the Consumer Financial Protection Bureau on the job, the better for the financial sector, families and small businesses, and our economy as a whole.”