Fact Check: The Real Reasons Republicans in Congress Are Blocking Richard Cordray

[Flaylo]

Stephanie Cutter: Fact Check: The Real Reasons Republicans in Congress Are Blocking Richard Cordray at CFPB

In his press conference today, the President spoke primarily about what we can do to create jobs and boost the economy right now, but he also took some time to discuss his efforts to fix the problems in our financial sector that precipitated this economic downturn:

"And what we've seen over the last year is not only did the financial sector -- with the Republican Party in Congress -- fight us every inch of the way, but now you've got these same folks suggesting that we should roll back all those reforms and go back to the way it was before the crisis."

As he also explained, his nominee to be the first head of the Consumer Financial Protection Bureau, former Ohio Treasurer and Attorney General Rich Cordray, is being blocked from office, noting that "Republicans have threatened not to confirm him not because of anything he's done, but because they want to roll back the whole notion of having a consumer watchdog."

Not surprisingly, those Republicans in Congress have looked for any excuse to avoid admitting that they are seeking to weaken these consumer protections - here are the facts behind their attacks on this important new watchdog for consumers

 

[Lakhota]

Hopefully, Elizabeth Warren will exact some measure of revenge when she becomes Senator Elizabeth Warren.