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Statement From Menendez On Recess Appointment of Richard Cordray at Consumer Financial Protection Bureau

Statement

Date: Jan. 4, 2012
Location: Washington, DC
Issues: Business and Consumers Finance and Banking

U.S. Senator Robert Menendez (D-NJ), Chairman of the Banking Committee's Subcommittee on Housing, Transportation, and Community Development today released the following statement in response to the President's announcement that he will appoint Richard Cordray to be the first director of the Consumer Financial Protection Bureau through a recess appointment:

"I applaud the President for taking forceful action to protect American consumers from the unregulated lenders that caused the financial crisis. I look forward to working with Mr. Cordray and the Consumer Financial Protection Bureau to protect middle class consumers and crack down on Wall Street. Unfortunately, Senate Republicans took partisanship to an entirely new level last month by blocking an up-or-down vote on Richard Cordray, a candidate they themselves admit is well-qualified for the position."


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