Washington, DC – This morning Richard Cordray’s nomination as director of the Consumer Financial Protection Bureau was reported out of the Senate Banking committee. The nomination is now ready for action by the full Senate.

“American families want and need someone to level the playing field and prevent tricks and traps in the financial services market”, said Lisa Donner, Executive Director of Americans for Financial Reform.  “We call on all Senators to stand up for families and confirm Richard Cordray as CFPB director. With millions of Americans out of work because of a financial crisis with abusive lending at its root and more and more demanding action in the streets, the choice is clear.  Will you implement the law and make sure the CFPB can do its job helping people defend themselves from loan sharks big and small? Or will you block consumer protection and instead protect wrongdoing by companies that caused the financial crisis? “