FOR IMMEDIATE RELEASE
DATE: January 4, 2011

CONTACT: John Carey at 202-466-1854
john@ourfinancialsecurity.org          

Press Statement and Conference Call Advisory

AFR Statement on President Obama’s Recess Appointment of Richard Cordray

Experts to Discuss Decision Today at 11:30 AM EST

Washington, DC – Americans for Financial Reform, a coalition of more than 250 national and state organizations working together for strong Wall Street reform, issued the following statement today:

Lisa Donner, Executive Director of Americans for Financial Reform:

“Consumers won today when President Obama defied Wall Street interests to make a recess appointment of Richard Cordray to head the Consumer Financial Protection Bureau. President Obama stood with consumers and families in making this crucial decision.

Now that the CFPB has a director, it is fully able to protect consumers everywhere in the financial marketplace, from a Wall Street bank to a payday lender or from a mortgage company to a credit bureau or anywhere else.

We commend the President for placing putting consumers and families first and rejecting the demands of the CFPB’s opponents, both on and off Capitol Hill, that the agency’s independence and power to protect consumers be gutted in return for allowing it to continue to exist. ”

Conference Call to Discuss Decision

Join members of AFR on a conference call TODAY to discuss President Obama’s decision.

WHO:

Ed Mierzwinski (US PIRG), Travis Plunkett (Consumer Federation of America), David Arkush (Public Citizen), and Marcus Stanley (AFR)

WHEN:

Today at 11:30 AM EST

CALL-IN INFORMATION:

Contact John Carey at john@ourfinancialsecurity.org  for details.

ADDITIONAL INFORMATION:

Click here to view press statements and editorial about the nomination.