Democratic PAC wants Cordray confirmed

Jessica M. Karmasek Dec. 7, 2011, 11:21am


WASHINGTON (Legal Newsline) - A Democratic political action committee is pushing for the confirmation of former Ohio Attorney General Richard Cordray as head of a new federal consumer protection agency.

In an email sent Tuesday, Washington-based 21st Century Democrats says Republicans are once again "stonewalling" Cordray's nomination.

"Elizabeth Warren was the President's first choice, but the Republicans stonewalled her," chairman Jim Scheibel wrote.

In July, President Barack Obama announced he would nominate Cordray to lead the new U.S. Consumer Financial Protection Bureau.

According to a Roll Call report earlier this week, White House officials say Cordray's nomination to lead the CFPB is expected to be voted on Thursday, even though his confirmation is far from a sure thing.

No Republican on the Senate Banking Committee voted to confirm Cordray in an October vote.

The CFPB was created by the Dodd-Frank regulatory overhaul and is tasked with regulating consumer financial products.

Republicans want changes made to the bureau before a director is picked, while the American Tort Reform Association has criticized the relationship Cordray built with private attorneys while serving as Ohio's attorney general.

In his email, Scheibel called Cordray a "true friend" to 21st Century Democrats.

"Cordray's credentials prove he is truly qualified to run the CFPB, but Republicans still stand in the way of his nomination," he wrote.

"President Obama is targeting Red State Senators who have repeatedly stonewalled Cordray's nomination... and kept you from being protected from credit card companies!"

The group is asking supporters to sign a petition by 6 p.m. Wednesday, letting GOP lawmakers know they want Cordray for the job.

"We need a responsible, qualified person who will fight for the American consumer, and Cordray is that person," Scheibel wrote.

The group says its mission revolves around "training progressives and building a network of populist Democrats who stand up for America's working families and lead the Democratic Party at the local, state, and federal levels."

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