Larson Statement on Appointment of Richard Cordray
Washington, D.C. - House Democratic Caucus Chairman John B. Larson (CT) released the following statement on President Obama’s appointment of Richard Cordray to head the Consumer Financial Protection Bureau:
“President Obama made the right choice in appointing Richard Cordray to head the CFPB over Republican objections today. American families and our economy finally have a tough watchdog in place looking out for our best interests just as we intended with Wall Street Reform.
“For six months now, Republicans in Congress have prevented Richard from taking his post not because of any objections they have over his qualifications but because they object to the very idea of putting a cop back on the beat to watch over Wall Street. Since Wall Street Reform was enacted, they have done everything in their power to allow Wall Street to continue to play Russian roulette with America’s future by continuing the unscrupulous practices that got us into this mess in the first place. As the President said today, ‘now is the time to do everything we can to protect consumers and prevent a financial crisis like the one we’ve been through from ever happening again.’ And getting Richard to work is a great step in that direction.”