WASHINGTON, D.C. – Senator Tom Harkin (D-IA) today issued the following statement after learning that President Obama will appoint Richard Cordray as director of the Consumer Financial Protection Bureau. In December, Senator Harkin delivered a floor speech urging Congressional Republicans to end their obstruction of Cordray’s nomination.
“I am very pleased President Obama has decided to appoint Richard Cordray to serve as the first director of the Consumer Financial Protection Bureau. Despite unprecedented Republican attempts to prevent the functioning of this Bureau, President Obama has made the strong and important decision to let this Bureau do its work. After facing years of unfair tricks and traps, hardworking middle class families need a cop on the beat looking out for their interests when they use their credit card, take out a student loan, or buy a home. Putting the middle class first is an important step to our economic recovery, and with this action today President Obama has helped us further down that path.”