Richard Cordray nominated to head Consumer Protection Bureau

President Barack Obama (L) Elizabeth Warren (C), Special Advisor on the Consumer Financial Protection Bureau, and Richard Cordray, Obama’s nominee to be the Director of the Consumer Financial Protection Bureau, walk into the Rose Garden where Obama introduced him as him nominee, in Washington on July 18, 2011. UPI/Kevin Dietsch

Richard Cordray gets a big job:

President Obama nominated Richard Cordray, the former attorney general of Ohio, to officially have your back. If and when Cordray is confirmed, he’ll run the Consumer Financial Protection Bureau, the agency created last summer to defend consumers against abusive practices by banks and other financial institutions.

The article goes on to analyze why Cordray was selected. Many expect him to run for governor of Ohio in 2014, so this can be a big stepping stone for him.

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