^ Harris, Sheryl (2010-12-15). "Outgoing Ohio Attorney General Cordray to go to Consumer Financial Protection Bureau". The Plain Dealer. Archived from the original on 2010-12-21.
In 2010, Cordray lost his bid for reelection to former U.S. Senator Mike DeWine. He became Director of the CFPB via recess appointment in July 2011 and was confirmed by the Senate in 2013. Cordray left the agency in late 2017 to run for governor of Ohio, an election he lost to DeWine.
^ "President Obama Announces Richard Cordray as Director of the Consumer Financial Protection Bureau". whitehouse.gov. 2011-07-17. Archived from the original on 2017-01-19. Retrieved 2019-05-16. Alt URL Archived 2019-05-16 at the Wayback Machine
In July 2009 Denny Chin, a judge on the United States district court for the Southern District of New York, granted lead plaintiff status to a group of five public pension funds for investor class-action lawsuits against the Bank of America Corporation over its acquisition of Merrill Lynch & Company.
In 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank; P.L. 111-203) established the Consumer Financial Protection Bureau (CFPB) to implement and enforce federal consumer financial law while maintaining consumer access to financial products and services.
Director, Rohit Chopra (Position is statutorily required.) (Position is statutorily required.)
Our enforcement and supervisory efforts have resulted in approximately $14.4 billion in relief for consumers, and $1.7 billion in civil penalties. We delivered economic redress to more than 183 million consumers and consumer accounts.
The CFPB works to prevent unfair, deceptive and abusive practices from financial companies by taking action against those that break the law. The bureau also works to educate and empower consumers to make the best financial decisions for themselves.
The newly appointed board members include experts in consumer protection, financial services, community development, fair lending, civil rights, and consumer financial products or services.
Federal Trade Commission, Consumer Financial Protection Bureau Pledge to Work Together to Protect Consumers | Federal Trade Commission.
In July 2010, Congress passed and President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act. The law – often referred to as the Dodd-Frank Act – created the Consumer Financial Protection Bureau (the CFPB).
The CFPB was created to provide a single point of accountability for enforcing federal consumer financial laws and protecting consumers in the financial marketplace. Before, that responsibility was divided among several agencies.
In July 2010, Congress passed and President Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act. The law – often referred to as the Dodd-Frank Act created the Consumer Financial Protection Bureau (the CFPB).