As I am sure you all already heard that Ms Warren was eliminated as an option to head up the CFPB.

Well, there was some discussion yesterday that former banker Raj Date would get the job but it looks like things have just changed…

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Cordray is Obama’s choice to lead Consumer Financial Protection Bureau

President Barack Obama will nominate former Ohio Attorney General Richard Cordray to head a powerful new consumer protection agency, White House officials said.

At a White House event Monday, Obama will announce his choice of Cordray, 52, who is currently serving as director of enforcement for the new agency called the Consumer Financial Protection Bureau.

By picking Cordray, Obama hopes to avoid a bruising Senate confirmation battle that would have occurred had he selected Elizabeth Warren, the Harvard law professor who came up with the idea and ultimately helped to set up the agency.

“Richard Cordray has spent his career advocating for middle class families, from his tenure as Ohio’s Attorney General, to his most recent role as heading up the enforcement division at the (bureau) and looking out for ordinary people in our financial system,” Obama said.

Sen. Sherrod Brown, D-Ohio, called the selection of Cordray a “great move. There’s no question of Rich’s qualifications.”

He predicted the Senate will likely confirm Cordray for the post “unless they get to be hyper-partisan. My only fear is Republicans don’t think we should have consumer protection rules.”

You can check out the rest here…

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