Victory! Richard Cordray Confirmed as Director of CFPB
Earlier this year, the Senate voted 66 to 34 to confirm Richard Cordray as Director of the Consumer Financial Protection Bureau (CFPB), the government agency responsible for ensuring that financial products and services are safe and reliable for American consumers.
NCLR (National Council of La Raza) applauds the Senate for confirming Cordray, who has a stellar track record of improving accountability among financial institutions and pushing back against deceptive lenders.
“Since the first day he stepped into his role as Director of the CFPB, Richard Corday has unquestionably shown that he has the good judgment and acumen to lead the agency and be the advocate that the American consumer needs. The effectiveness of the CFPB in protecting Americans from fraud, unfair lending and other deceptive practices that occur all too often in the financial marketplace is directly dependent on the strength of its leader, which is why this confirmation was so critically important,” said Janet Murguía, President and CEO of NCLR.
Under Cordray’s leadership, the CFPB has defended consumers and military families, returned nearly half a billion dollars to customers cheated by credit card companies, advanced new protections and disclosures for remittances and issued new mortgage rules that will keep homeownership opportunities open to Hispanic families.
“We are eager to see the CFPB continue its essential work under the direction of Richard Cordray,” said Murguía. “He has proven himself a champion that Latinos and all other consumers and homeowners deserve.”