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Attorney General Kilmartin Blasts Republican Senators for Blocking Nomination of Richard Cordray as Director of Consumer Financial Protection Bureau

Attorney General Peter Kilmartin expressed dismay at the Senate Republicans blocking the nomination of Richard Cordray as Director of the Federal Consumer Financial Protection Bureau (CFPB).

"This petty, political and partisan game to block the nomination of Richard Cordray by the Senate Republicans is why the American people don't trust Washington. The Republican Senators put politics before the American people. It is shameful," said Attorney General Kilmartin. "Consumer protection and financial reform should not be hijacked by partisan politics. The American people deserve better. If the Republican Senators are unwilling to nominate an individual many of whom have endorsed, how can the American people trust Washington to work together on the many serious issues facing our country."

Kilmartin noted that Cordray's, a former Attorney General from Ohio, qualifications and support from both Democrat and Republican attorneys general. "Richard Cordray is particularly well qualified to serve in this position. For the past several months he has served as the CFPB's director of enforcement. He earned a reputation as a strong advocate for the interests of consumers. He has dealt with all the leading players, including Wall Street firms, banks, credit rating agencies and subprime mortgage lenders. In these actions he not only defended consumers but also worked to find fair and reasonable solutions for the financial industry."

"I strongly urge the Senate to put politics aside for the benefit of the American people and take up Cordray's nomination immediately," concluded Kilmartin.

Related links

Department or agency: Department of the Attorney General

Online: http://www.riag.ri.gov/

Release date: 12-08-2011

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