NEWSMAX: / AP: President Barack Obama intends to nominate former Ohio Attorney General Richard Cordray to lead a new consumer financial protection bureau that was a central feature of a law that overhauled banking regulations…
In choosing Cordray, Obama bypassed Elizabeth Warren, a favorite of consumer groups, who has been assembling the agency as a special adviser to the White House and to Treasury Secretary Timothy Geithner…
Republicans fought fiercely against the creation of the bureau last year and have been trying to place restrictions on the agency. In May, all Senate Republicans joined in a letter to Obama threatening to withhold their support for any nominee to the position if the White House didn’t seek significant changes to the agency… (more)
