JOHNSON STATEMENT ON SENATE REPUBLICANS’ OBSTRUCTION OF RICHARD CORDRAY’S NOMINATION TO LEAD THE CFPB
WASHINGTON – Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement after Senate Republicans voted to block Richard Cordray’s nomination to be the first ever Director of the Consumer Financial Protection Bureau.
"I am disappointed that Senate Republicans continue to hold strong consumer protections hostage. By voting against Mr. Cordray’s nomination Senate Republicans demonstrated that they care more about Wall Street than helping American consumers.
“American families paid a steep price for the financial crisis, battered by layoffs and foreclosures. Congress created the CFPB to protect consumers and clean up the marketplace, but it needs a director. Richard Cordray has proven himself capable for the job, and there is no legitimate reason to block his confirmation.”
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