Today the Department of Justice confirmed that President Obama was well within his right to appoint Richard Cordray as head of the Consumer Financial Protection Bureau while the U.S. Senate was in recess.
We applaud the President for moving forward and refusing to let Republicans in the Senate deny American families an advocate who will protect them from Wall Street abuses. As our consumer watchdog, Cordray will go to bat for consumers and stand up to payday lenders, unscrupulous debt collectors and the private student aid lenders who are saddling young people with loads of debt even before they graduate from college.
Our nation can't afford to wait for the Republicans in Congress to experience a change of heart that we all know will never come.
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