Categorized | National News

Pres. Obama Appoints New Head Of Consumer Agency

WASHINGTON — President Barack Obama is vowing to fight any efforts to block the work of a new consumer protection bureau as he introduces a former Ohio attorney general to run the agency.

If confirmed by the Senate, Richard Cordray would head the agency tasked with being a government watchdog over mortgages, credit cards and other forms of lending. Obama says the agency will protect the public from financial fraud and abuse.

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