Friday, January 06, 2012

McCune Davis applauds appointment of consumer watchdog head Cordray


STATE CAPITOL, PHOENIX – Rep. Debbie McCune Davis, D-Phoenix (District 14), a longtime consumer rights advocate who worked to eliminate predatory payday loans in Arizona, today issued the following statement applauding the appointment of former Ohio Attorney General Richard Cordray to lead the Consumer Financial Protection Bureau America's consumer watchdog agency:
"Since President Obama nominated Richard Cordray last summer, the Tea Party has consistently stonewalled his appointment to stop the consumer watchdog bureau from doing its job. As a longtime consumer advocate, I applaud the choice of Mr. Corday to stand up to payday lenders, debt collectors, credit-reporting agencies and private student lenders.

“It's time to start looking out for the best interests of consumers and protecting Arizona's working families from the abuses of the financial industry. Everyone should play by the same rules so that hard work pays off and responsibility, not recklessness, is rewarded. Ensuring Richard Cordray can do his job without delay is a significant step forward."

This week, the CFPB is launching a simple phone number - 1 (855) 411-CFPB - that you can call to make sure you're getting a fair deal on your mortgage. The Bureau is also charged with protecting veterans to make sure they aren't taken advantage of when they return from serving our country, as well as protecting seniors at danger of losing their homes or retirement because someone saw them as an easy target.

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