Ohio Attorney General Richard Cordray Selected to Head the Enforcement Division of the New Consumer Financial Protection Bureau

Vocal bank critic gets key U.S. consumer bureau post

(Reuters) – The Obama administration has selected Ohio Attorney General Richard Cordray, a vocal critic of the banking industry, to head the enforcement division of the new Consumer Financial Protection Bureau, according to a Treasury official.

Cordray, a Democrat, has been a leader among state attorneys general in the probe into mortgage foreclosure practices. The probe is examining whether banks submitted faulty legal documents in foreclosure proceedings.

The Obama administration will announce the selection of Cordray later today, the Treasury official said. Cordray lost his re-election bid in November to Republican Mike DeWine.

Cordray emerged as a key figure in the foreclosure probe when he announced in October that he would sue national mortgage servicer GMAC Mortgage and its parent company, Ally Financial, alleging fraud and violations of Ohio’s consumer laws.

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Comments
9 Responses to “Ohio Attorney General Richard Cordray Selected to Head the Enforcement Division of the New Consumer Financial Protection Bureau”
  1. Ron Moss says:

    If Attorney Cordray is like our attorney general, the banks own him already. They have contributed more to his effort than I ever hope to. In WA state ie.

  2. Nye Lavalle says:

    He’s the real mccoy and one of few to first fight the banks! We have direct ties to him! Good guy! Great choice, for once!

    • david black says:

      hi Nye

      I believe you. However there are confirmed rumors on the street that the big bad banks and their cronies in Washington, D.C. have a plan to deal with Mr.Cordray. From what I hear on the tom tom wire there is going to be a major reorganization of the bank regulatory agenices to include the ABOLISHMENT of the Office of the Thrift Supervision.

      Well what does that mean. Never heard of them right !

      Well what it may mean allegedly is that instead of creating more competition like the NEW ELLEN WARREN of the july 1st 2011 Consumer Financial Proetection Agency wants to do per her interviews, the OCC is taking over the OTS . that may mean a first step in the big banks ordered to take over all the smaller banks now under OTS. that also puts a huge stimulus back door tarp infusion of capital into the big insolvent banks. keeps up those bonuses too.

      and I would suggest that between right now on 12/15 and July 1 2011 the big bad banks are going to try to get the fed to put regs on the street that we consumers can NOT get our mortgage rescinded for fraud and we can not buy back our own house after foreclosure and auction. we cant even bid on it unless we pay off the whole original balance. finally the legalization of robosigners and the total legalization of MERS.

      if we want a chance of keeping our homes and stopping these banks we better start haying a strategy for writing letters to the house and senate banking committee and visitation to our congressman and senators offices to say NO To this new legislation and lots and lots of phone calls to capitol hill.

      the big prize for all this is the DERIVATIVE market and the trillions in profits and the source of the final and last meltdown of the us. economy.

      these guys work 24/7 while we sleep with world wide resources and money to make the above happen.

      our only choice is 24/7 vigilance. Thomas Jefferson said this was going to happen and it did and Theodore Roosevelt tired to stop these big bad banks and failed and we had the GREAT DEPRESSION.

      what we need is a Sherman Anti Trust action like against standard oil against the BIG BAD BANKS and bust them up and not allow the U.S. BANKING CARTEL under the OCC to exist any more.
      and get rid of the OCC as well.
      best regards
      David B.

  3. housemanrob says:

    Is he the “real Mccoy” or just more ” smoke and mirrors”!

  4. John R. says:

    YES!!!

  5. J Glenn Lowe says:

    Of course it’s the same old trick. Good luck with the new enforcer. Same as the last one as usual. They said above that “the probe is examining whether banks submitted faulty legal documents”. There are millions of fraudulent cases in courts right now that any moron can prove to be a fraud. Just read more than one article on this site and you can figure that out. What is there to examine? The proof is everywhere you look. It’s just the usual dog and pony show for herd so they will go back to watching TV while their country is burning to the ground all around them.

    The men in black dresses (Judges) are working for the Banksters as executive officers of the bank, not judicial officers of the courts. They should all be in jail for this. If they were representing the people and not the banks there would have never been any need for a probe because almost all of the cases would get thrown out at first glance. All you have to do is read any one case out there these days and see fraud. Your children could see it faster than these judges do. They are bribed to process thousands upon thousands of these cases without even looking at them.

    That’s why I dedicate this song to crooked Judges (Almost all of them are these days), Gangster/Banksters, and the CEO’s of the top six banks in this country that are insolvent and have crashed the world economy. These fraud whores are putting children in the streets just so they can keep rolling the dice on Wall Street.

    Die Banker Die by J Glenn Lowe – A Tribute to Wall Street Banksters and Fraudgate http://www.youtube.com/watch?v=YGFZ1Jj3ui8

    “When they came to take my neighbors house across the street, I did nothing, When they took my neighbors house next door. I did nothing. When they took the rest of my neighbors houses. I did nothing. When they came for my house there was no one left to stop them” The American Dream is burning to the ground in front of your eyes people. Please wake up before they come for your home too. Or we will all be renting our homes from China. That’s where the deeds are.

    J Glenn Lowe

  6. FKA says:

    Richard Cordray is a politician…and all that currently implies. As an Ohioin I believed his GMAC lawsuit was just a ploy for the FREE press he received…a month before he came up for re-election…

  7. Bill Hargraves says:

    This is an old trick. That is, flatter your opposition by sucking them into a position that seems special, then give them a windowless office without a phone.

  8. david black says:

    This is good news. Talk is cheap. Lets see if he walks the walk. Now that he is appointed all we need to do is get the NY ATG appointed to be the EXEC committee of ATGS to replace Miller who is just a bank pawn.

    finally, get a better chairman of the house banking committee instead of this new guy that is coming in January. he is a reputed and brags about it , a pawn of the banks and does their bidding after accepting the millions they donate.

    the one last step is to cut off all the bribe aka political pac donations and health trusts set up by congr and senators , ie all the bribe money so we homeowners middle class people DOMINATE the HO– USE and SENATE “Banking Committees or House Financial Services Committee instead o the banks. maybe that will ensure we have a country that is debt free and a surplus federal budget instead of what we have now.

    and of course n o bonuses for the next ten years to walls street and all their profits go to paying off the deficit at the federal level.

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