Cordray Looks Beyond Lawsuits to End Abuses as Consumer Enforcer
This article is for subscribers only.
Richard Cordray, President Barack Obama’s nominee to run the U.S. Consumer Financial Protection Bureau, gained national attention by suing major financial firms including Bank of America Corp., JPMorgan Chase & Co., Citigroup Inc. and Ally Financial Inc. over botched mortgage servicing.
Yet Cordray, who filed those suits as Ohio’s attorney general, says he sees the new federal agency as a way to enhance consumer protections through a range of responses besides litigation.