Wednesday, January 4, 2012

Watchdog

A quick note of congratulations to Richard Cordray, now Director of the Consumer Financial Protection Bureau by dint of a recess appointment made today by President Barack Obama. (credit for detail from Bureau's website)
A colleague of Rich since we both clerked at the U.S. Supreme Court during OT '88, I look forward to his leadership at the 6-month-old bureau. The Ohioan takes up the unenviable job of keeping the consumer finance industry honest. To be watched? As he put it in an op-ed today, "big banks," "nonbank mortgage lenders and servicers, and payday lenders."
A worthy task in this taxing economy.

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