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Ackerman Hails Obama’s Recess Appointment of Consumer Financial Protection Bureau Chief

The measure protects Americans from unscrupulous lending practices, the U.S. congressman says.

Editor's Note: Rep. Gary Ackerman (D-NY) praised President Obama’s recess appointment of Richard Cordray as head of the Consumer Financial Protection Bureau. The president announced the appointment Wednesday during Congress’ holiday recess. 

The president has taken a giant step towards protecting Americans from unscrupulous lending practices used by banks and financial institutions. Today is truly a terrible day for predatory lenders and a great day for consumers. By making this recess appointment, the president has given this critical agency the ability to do the good work that is its mission for the American people.

I commend the president for making this bold move, and for circumventing Republicans who shamefully held consumers hostage by using the confirmation process as a bargaining chip. After many months of delays by the GOP, consumers will finally have a cop on the beat to guard against the deceitful and unfair practices that have gouged consumers for far too long.

Gary Ackerman represents New York's 5th District and is a senior member of the House Financial Services Committee.

Mike January 05, 2012 at 06:34 PM
Just what is it that Ackerman does? Taxes still go up, Flushing is dirty, over crowded. Queens is a dump! Just what does he do?
Arthur J caputo January 05, 2012 at 09:53 PM
Don't attack Rep. Ackerman,he's the least of the worries of the middle class and the poor. Attack these unscrupulous republicans for holding the American people hostage from the minimum wage increases to anything else that benefits the hard working American people.Hooray for Obama for his appointment to the consumer agency. These republicans would block anything except breaks for the already rich.They are shameless.
matt January 06, 2012 at 01:45 PM
hostages, millionaires, billionaires. thats the democrat mantra.meanwhile the country is worse off than ever.thanks gary
max January 06, 2012 at 02:59 PM
Ackerman a political hack. TERM LIMITS!

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