WASHINGTON, DC – U.S. Senator Jack Reed (D-RI) today commended President Barack Obama for nominating former Ohio Attorney General Richard Cordray to lead the Consumer Financial Protection Bureau (CFPB).  Reed, a senior member of the Banking Committee who helped create the CFPB, issued the following statement:

“Rich Cordray is an excellent pick.  He is highly qualified and has a strong track record of taking on special interests and standing up for consumers.  As Ohio Attorney General, Cordray fought to make mortgage servicing practices more fair and transparent.  The CFPB is an important new agency that will enforce federal consumer financial law consistently to ensure that consumers  and taxpayers are protected from abusive financial products.”

-end-