Senate Blocks Qualified Nominee
Washington, DC — The National Community Reinvestment Coalition (NCRC) today issued the following statement after the Senate failed to secure cloture on the nomination of Richard Cordray to head the Consumer Financial Protection Bureau.
NCRC President & CEO John Taylor:
“Shame on those Senators who have blocked Richard Cordray’s nomination. The financial crisis nearly brought this country to its knees, and at its epicenter were reckless and abusive lending practices by lenders. It is appalling to me that elected officials – even those who depend on Wall Street to get elected – can take this position, because it is a slap to the face of the American people. This is a vote against the millions of Americans who have lost a home. This is a vote against the tens of millions of Americans who have lost a job or can’t find one. This is a vote against all Americans who have seen their retirement savings hurt, their equity reduced and their wealth damaged by the recession and the aftermath of the financial crisis. Voting against Richard Cordray is a vote for the 1% against the interests of the 99%”