Richard Cordray, '86, nominated by President Obama to lead new Consumer Financial Protection Bureau
In a written statement, President Obama said that he would nominate Richard Cordray, '86, the former attorney general of Ohio, to head the new Consumer Financial Protection Bureau. Cordray currently serves as director of enforcement at the agency.
“Richard Cordray has spent his career advocating for middle-class families, from his tenure as Ohio’s attorney general to his most recent role as heading up the enforcement division at the C.F.P.B. and looking out for ordinary people in our financial system,” Mr. Obama wrote.
Congress created the bureau in July 2010, with the enactment of the Dodd-Frank law overhauling financial regulations after the credit crisis.
Mr. Cordray joined the consumer bureau in December after narrowly losing a re-election bid for Ohio attorney general. He graduated from the Law School in 1986, where he was the editor of the Law Review. He also holds a master's degree with first-class honors from Oxford University in England.