The Senate should confirm Richard Cordray as Director of the Consumer Financial Protection Bureau.
Cordray has been serving as Director under a recess appointment for the past year. During that time he has operated the Bureau in an open and honest manner. He has proven himself to be a very pragmatic and extraordinarily talented leader who has earned a reputation for thoughtfulness and fair play.
Maybe the CFPB is not perfect. But, it surely is not an organization bent on the destruction of either banks or business. After a year and a half of operation, the CFPB largely earns kudos from those industries it regulates.
Richard Cordray has done a fine job in his role as Director of the CFPB. He is an extraordinarily talented man who is no ideologue. In an interview with Bloomberg Television, Cordray said that he does not “think about politics” while working at CFPB. “I’m in a job that doesn’t mix with politics,” he said. I think his track record has proven him to be true to his word.
As we move into 2013 and beyond, the Consumer Financial Protection Bureau will pay a pivotal in the regulation of consumer finance matters. Their goal is not only to protect consumers but to support ethical and honest businesses as well.
As regular readers of this blog know, the debt collection industry has an unsavory reputation. Richard Cordray is the right man leading the right organization to make sure consumers who have fallen on hard times get treated with the dignity and respect they deserve.
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