Jim Guest, President of Consumers Union, invited Senator Warren to sit down and talk about the Consumer Financial Protection Bureau and the importance of having Richard Cordray confirmed as its Director.
Jim Guest, President of Consumers Union and Senator Warren
After the banking and mortgage collapse that drove our nation to the brink, hundreds of thousands of you demanded a tough financial watchdog, and Congress responded by creating the Consumer Financial Protection Bureau. Unfortunately, Richard Cordray has been waiting and waiting for a Senate confirmation vote, and with each day of delay there is uncertainty in the marketplace. Richard Cordray has successfully lead the CFPB for the past year, overseeing enforcement that has returned $425 million to millions of consumers lured into purchasing financial products that they did not need or understand. Now, a minority of Senators are holding hostage the confirmation, until they can significantly weaken its authority to protect the public. Consumers Union held a tele-town hall to coordinate consumer action and urge the Senate to confirm the highly qualified Cordray immediately.
Thousands of consumers from all across the country called in to listen and ask Senator Warren questions about the state of Cordray’s confirmation and how they could help make sure that the first financial consumer watchdog stayed strong. You can join Senator Warren and Consumers Union in urging the Senate to take action and confirm Richard Cordray.
To learn more about the CFPB and why Senator Warren thinks the Senate should act now listen to the full recording.