President appoints Ohio AG to head CFPB

07/19/2011 4:58 PM | Anonymous

President Barack Obama said Sunday he would nominate former Ohio Attorney General Richard Cordray to head the consumer finance watchdog agency created in the wake of the 2008 financial crisis.

During two years as Ohio's attorney general, Mr. Cordray was a leader among state regulators who challenged banks over their mortgage foreclosure practices.  Among other things, the CFPB will be responsible for enforcing RESPA and providing a consolidated GFE and TILA disclosure.


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