Cordray: Consumer protections will justify need for CFPB

03/16/2012 | American City Business Journals

Richard Cordray, director of the Consumer Financial Protection Bureau, says the "middle class is getting hammered" as household debt has hit $12.5 trillion. Cordray says that efforts by the agency such as advocating simpler loan forms and taking consumer complaints are important to protecting the middle class. "As we do our work, I believe we will justify the agency," he said.

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