WASHINGTON – Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement in response to the White House’s announcement that President Obama will recess appoint Richard Cordray to be the first director of the Consumer Financial Protection Bureau.
“With Richard Cordray leading the Consumer Financial Protection Bureau, Americans will finally get the consumer protections they deserve. Mr. Cordray is eminently qualified for the job, as even my Senate Republican colleagues have acknowledged. As Banking Committee Chairman I look forward to working with Mr. Cordray and the CFPB as he moves forward on implementing long-overdue consumer financial protections for all Americans.”
“It’s disappointing that Senate Republicans denied him an up-or-down vote, especially when it’s clear he had the support of a majority of the Senate.”