Richard Cordray to lead consumer bureau instead of Elizabeth Warren: report

[babsbunny]

http://www.rawstory.com/rs/2011/07/17/richard-cordray-to-lead-consumer-bureau-instead-of-elizabeth-warren-report/

By Eric W. Dolan
Sunday, July 17th, 2011 -- 12:16 pm

President Barack Obama will nominate former Ohio Attorney General Richard Cordray as director of the Consumer Financial Protection Bureau, rather than Harvard law professor Elizabeth Warren, according to published reports.

The Columbus Dispatch reported that Obama will make the announcement at a White House event on Monday.

Fifty-two-year-old Cordray currently serves as director of enforcement for the Consumer Financial Protection Bureau. The Bureau was created by the Dodd–Frank Wall Street Reform and Consumer Protection Act to regulate mortgages, credit cards and other financial goods and services. It will commence operation as an independent agency on July 21.