Blumenthal Statement on President’s Appointment of Richard Cordray as Director of Consumer Financial Protection Bureau

(Hartford, CT)  – Today, Senator Richard Blumenthal (D-CT) released the following statement in response to President Obama’s appointment of Richard Cordray to head the Consumer Financial Protection Bureau (CFPB):

“This special appointment meets an extraordinary need for heightened protection against consumer abuses that can be enforced only by a qualified official as director of the CFPB. Without this appointment, any of the institutions that caused financial catastrophe and economic calamity could repeat their abusive and destructive practices. Mr. Cordray has dedicated his life to protecting ordinary men and women against the financial abuses that the CFPB is designed to fight, and I know that with his leadership, the CFPB will effectively investigate and stop the abusive practices that some financial institutions are inflicting upon consumers.” 

###