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Home state sheriffs back Cordray for Consumer Bureau

By Peter Schroeder - 08/02/11 10:13 AM ET

A group of roughly 30 Ohio sheriffs has thrown its support behind former Ohio Attorney General Richard Cordray to be the first director of the Consumer Financial Protection Bureau (CFPB).

Cordray, tapped by Obama to be the first person to head up the new bureau, is expected to face a rough confirmation battle due to strong Republican opposition.

However, in a letter sent to Senate Banking Committee Chairman Tim Johnson (D-S.D.) and ranking member Richard Shelby (R-Ala.), the sheriffs, both Republican and Democrat, urged lawmakers to quickly confirm him for the spot, saying he would be an effective watchdog for consumers. A copy of the letter was obtained by The Hill.

"As sheriffs, we know the harm caused by scams, fraud and other illegal activity. Law-abiding businesses are put at a competitive disadvantage by those who cheat," they wrote. "Consumers are hurt by purchasing products they don't want, or giving money to charities that don't exist.

"Rich led numerous efforts to combat consumer fraud ... and has earned the respect of Ohio's law enforcement community," they continued. "We believe he will be an effective cop-on-the-beat for consumer financial products. We support his nomination without reservation, and urge you to confirm him as the first director of the CFPB."

The Senate Banking Committee was originally slated to consider Cordray's nomination on Thursday. However, as the Senate prepares to vote and presumably pass a deal to raise the debt limit Tuesday, it is possible the Senate could promptly recess. That move would push the hearing back to September, when Congress returns from its August recess.

Whenever he does appear before the Senate, Cordray is expected to find a skeptical audience from Republicans. A filibuster-proof bloc of GOP senators has vowed to block any nominee to head the CFPB until several changes are made to its structure and how much control Congress has over it.


Source:
http://thehill.com/blogs/on-the-money/banking-financial-institutions/174955-home-state-sheriffs-back-cordray-for-consumer-bureau

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