For Immediate Release - October 20, 2011

AG Coakley and 36 Attorneys General Issue Letter of Support for Cordray Nomination for Consumer Financial Protection Bureau Director

BOSTON – Massachusetts Attorney General Martha Coakley has submitted a formal letter of support for the nomination of former Ohio Attorney General Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB).  The letter sent yesterday by the National Association of Attorneys General (NAAG) to the U.S. Senate was signed by AG Coakley and 36 other state and territorial Attorneys General.   

“Richard Cordray has long been a strong advocate for consumers, both in his role as CFPB’s director of enforcement, and prior to that as Ohio Attorney General,” said Attorney General Coakley.  “I am confident that Mr. Cordray’s past experience, sound judgment, and leadership skills will allow him to be an exceptional defender of consumers, while maintaining a fair and balanced approach to the financial industry.”

The CFPB was created by the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act and is tasked with regulating financial products and services.  President Obama nominated Cordray to become CFPB director in July 2011, and the U.S. Senate Committee on Banking, Housing and Urban Affairs voted 12-10 on October 6, 2011 to send the nomination to the full Senate.  In addition to Massachusetts, the Attorneys General of the following states and territories signed onto the letter of support: North Carolina, Utah (letter co-sponsors), Alaska, American Samoa, Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Guam, Hawaii, Idaho, Illinois, Iowa, Kentucky, Louisiana, Maryland, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, New Mexico, New York, North Dakota, Northern Mariana Islands, Oregon, Rhode Island, Tennessee, Vermont, U.S. Virgin Islands, Washington, West Virginia and Wyoming.

A copy of the NAAG letter can be found here: http://www.naag.org/sign-on_archive.php.

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