President Barack Obama has selected Richard Cordray, former Ohio Attorney General, as Director of the Consumer Financial Protection Bureau, the strongest consumer watchdog group of its kind. Cordray, most recently served as the bureau’s Chief Enforcement Officer, handing out penalties to financial institutions such as rating agencies and payday lenders, for poor conduct. The Financial Protection Bureau is responsible for many reformations in the consumer market to date and Cordray will no doubt assist the bureau greatly in the furtherance of its goals.
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