InfoBytes Special Alert: President Nominates Richard Cordray as Director of CFPB

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On July 17, President Obama announced his intention to nominate Richard Cordray as the director of the Bureau of Consumer Financial Protection (CFPB), which requires Senate confirmation. Mr. Cordray was originally tapped last December to serve as the CFPB's Chief of Enforcement.

Cordray Actions as Ohio Attorney General

Prior to joining the CFPB, Mr. Cordray was the Attorney General of Ohio from January 2009 through January 2011. In that capacity, Mr. Cordray brought a number of actions of potential interest to consumer financial services companies, including the following....

Please see full alert below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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