VICTORY: Senate Saves Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau—the agency championed by Senator Elizabeth Warren to be a voice for consumers in Washington—was endangered when Republicans in Congress refused to reconfirm Richard Cordray, the bureau’s widely respected first director. That’s why James Lardner of Americans for Financial Reform created a MoveOn Petition to the U.S. Senate, asking them to allow an up-or-down vote on Cordray’s nomination. More than 87,000 MoveOn members signed the petition, and the public interest prevailed: A group of senators finally relented, and Cordray was sworn in on July 17. With the political stalemate over, the CFPB is now free to do the vital work of protecting consumers from abusive and deceptive banking practices.