State attorneys general push for Cordray to lead federal consumer agency

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Source: Wash. Post

The White House has enlisted a bipartisan coalition of state attorneys general to help break a blockade by Senate Republicans of President Obama’s nominee to lead the controversial new federal consumer watchdog agency.

The National Association of Attorneys General on Tuesday sent a letter to Senate leaders calling nominee Richard Cordray “brilliant and balanced.” Cordray was an attorney general in Ohio known for his aggressive pursuit of foreclosure fraud before joining the Consumer Financial Protection Bureau as head of enforcement in January. This summer, Obama picked him to lead the fledgling agency, and he now awaits Senate confirmation.

“We understand the political nature of this,” said Utah Attorney General Mark Shurtleff, a Republican who still has reservations about the bureau. But, he said, “If there’s gonna be a director, we can’t think of anybody who would be better.”

Cordray has been caught in the middle of a political standoff over what the CFPB should look like. Though lawmakers from both parties have praised his experience and qualifications, Senate Republicans have vowed to block any nominee unless structural changes are made to the bureau.

Read more: http://www.washingtonpost.com/business/economy/state-attorneys-general-push-for-cordray-to-lead-federal-consumer-agency/2011/10/18/gIQAcFNnvL_story.html

[DCKit]

1. "...Republicans have vowed to block any nominee unless structural changes are made to the bureau."

Speaks VOLUMES about their intentions.