Urge Your Senator to Confirm Richard Cordray to Head the Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau (CFPB) opened its doors on July 21, but it will not have full authority to protect student loan borrowers and other consumers until it has a confirmed Director. The confirmation process has been delayed by Senators who have pledged to block any nominee until changes are made that would weaken the Bureau's ability to protect consumers and students. The Senate is now scheduled to vote this Thursday, October 6, 2011, on the confirmation of Richard Cordray as Director of the CFPB.
Please act now to urge your senator to vote to confirm Richard Cordray to ensure that students have the protection they need from deceptive and predatory loan practices.
As Attorney General in Ohio, Richard Cordray was known as a strong, but fair, enforcer who worked on a non-partisan basis to protect the people of his state. His nomination has earned widespread support from Republicans, Democrats, business leaders and consumer advocates. In short, Cordray is an excellent candidate for Director of the Bureau.
Without a confirmed director, the CFPB does not have full authority to stop deceptive and abusive financial practices, including those involving private student loans. Tell your Senator to stop playing politics on this important issue and vote to confirm Richard Cordray without delay!