President Obama to Re-Nominate Richard Cordray for Head of Consumer Financial Protection Bureau
President Barack Obama is expected to announce two nominations for posts under his administration on Thursday. The White House confirmed this morning that the president will renominate former Ohio Attorney General Richard Cordray as head of the Consumer Financial Protection Bureau.
Cordray was believed to be a possible Democratic challenger to Ohio Governor John Kasich, but his renomination today may clear the way for Cuyahoga County Executive Ed FitzGerald to claim the Democratic Party's nomination to challenge Kasich in the polls next year. Earlier this year, former Ohio Gov. Ted Strickland said that he would not run again for the job.
Other Democrats who are said to be interested in running for governor include Rep. Tim Ryan of Niles and former U.S. Rep. Betty Sutton of Barberton.
In a statement, the White House applauded Cordray's accomplishments during his reign at the consumer watchdog agency, stating that the agency has implemented new rules to protect homeowners, launched a campaign to ensure consumers have all the information they need to make smart financial decisions, and "fighting to ensure credit card companies, debt collectors and student lenders aren't taking advantage of American families."
Cordray's current appointment will expire at the end of 2013.
Obama is also expected to nominate Mary Jo White, former director of the NASDAQ Stock Exchange, to serve as Chair of the Securities and Exchange Commission.
A press conference is scheduled for 2:30pm today.