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Consumer Financial Protection Bureau Director Richard Cordray testifies before a Senate Banking, Housing and Urban Affairs Committee hearing on "Holding the CFPB Accountable: Review of First Semi-annual Report" on Capitol Hill in Washington January 31,... View Photo »
WASHINGTON, DC - JANUARY 31: Richard Cordray, Director of the Consumer Financial Protection Bureau, arrives at a Senate Banking, Housing and Urban Affairs Committee hearing on January 31, 2012 in Washington, DC. The committee is hearing testimony from... View Photo »
Consumer Financial Protection Bureau Director Richard Cordray testifies on Capitol Hill in Washington, Tuesday, Jan. 31, 2012, before the Senate Banking Committee hearing on "Holding the CFPB Accountable: Review of First Semi-annual Report. View Photo »
Sen. Richard Shelby, R-Ala. , the ranking member of the Senate Banking Committee, questions Consumer Financial Protection Bureau Director Richard Cordray on Capitol Hill in Washington, Tuesday, Jan. 31, 2012, during the committee's hearing on "Holding the... View Photo »
First lady Michelle Obama and guests applaud during President Barack Obama's State of the Union address on Capitol Hill in Washington, Tuesday, Jan. 24, 2012. Front row, from left are, Jackie Bray, Obama, retired Capt. Mark Kelly, Jill Biden, Sgt. ... View Photo »
CORRECTS THAT MAN IS SIXTH FROM LEFT IN FIRST ROW TO HIROYUKI FUJITA--First lady Michelle Obama and guests applaud during President Barack Obama's State of the Union address on Capitol Hill in Washington, Tuesday, Jan. 24, 2012. Front row, from left... View Photo »
Newly appointed Consumer Financial Protection Bureau (CFPB) Chair Richard Cordray testifies before the House Oversight and Government Reform Committee Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs hearing on Capitol... View Photo »
WASHINGTON, DC - JANUARY 24: Subcommittee Chairman Rep. Patrick McHenry (R-NC) (L) listens to Committee ranking member Rep. Elijah Cummings (D-MD) (R) as Consumer Financial Protection Bureau Director Richard Cordray (C) looks on prior a hearing before... View Photo »
WASHINGTON, DC - JANUARY 24: Consumer Financial Protection Bureau Director Richard Cordray testifies during a hearing before the TARP, Financial Services and Bailouts of Public and Private Programs Subcommittee of the House Oversight and Government... View Photo »
Rep. Patrick McHenry (R-NC) (L) and newly appointed Consumer Financial Protection Bureau (CFPB) Chair Richard Cordray chat before the House Oversight and Government Reform Committee Subcommittee on TARP, Financial Services and Bailouts of Public and Private... View Photo »
Newly appointed CFPB Chair Richard Cordray smiles as he testifies before the House Oversight and Government Reform Committee Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs hearing on Capitol Hill in Washington, January... View Photo »
WASHINGTON - JANUARY 6: U.S. U.S. President Barack Obama (C) speaks as Richard Cordray (3rd R), head of the Consumer Financial Protection Bureau and other officials listen during a visit to the Consumer Financial Protection Bureau January 6, 2012 in... View Photo »
WASHINGTON - JANUARY 6: U.S. President Barack Obama (L) delivers remarks beside Richard Cordray (R) during a visit to the Consumer Financial Protection Bureau January 6, 2012 in Washington, DC. Obama named Cordray as head of the Consumer Financial... View Photo »
US President Barack Obama (L) speaks with newly appointed Director Consumer Financial Protection Bureau Richard Cordray during an event at CFPB in Washington, DC, January 6, 2012. The White House insisted Thursday that President Barack Obama acted... View Photo »
FILE - In this Jan. 6, 2012, file photo President Barack Obama visits the new director of the Consumer Financial Protection Bureau (CFPB), Richard Cordray, right, at CFPB's offices in Washington. Obama's appointments to two key agencies during the... View Photo »
U.S. President Barack Obama shakes hands with Richard Cordray (R) after appointing him to head the Consumer Financial Protection Bureau during a trip to Cleveland, Ohio January 4, 2012. Republicans hoping to be chosen to run against President Barack... View Photo »
US President Barack Obama points to a woman's black eye as he poses for photos after speaking about the economy at Shaker Heights High School in Shaker Heights, Ohio, a suburb of Cleveland, on January 4, 2012. Obama plans to appoint Richard Cordray as... View Photo »
US President Barack Obama speaks about the economy at Shaker Heights High School in Shaker Heights, Ohio, a suburb of Cleveland, on January 4, 2012. Obama plans to appoint Richard Cordray as acting head of the Consumer Financial Protection Bureau in a... View Photo »
U.S. President Barack Obama puts his hand on the shoulder of Richard Cordray (R) as he announces Cordray as the country's new consumer financial protection watchdog during a trip to Cleveland, Ohio January 4, 2012. The Consumer Financial Protection... View Photo »
U.S. President Barack Obama shakes hands with his recess appointee Richard Cordray (R) as head of the country's new consumer financial protection watchdog, sidestepping Republican congressional opposition to his pick during a trip to Cleveland, Ohio... View Photo »
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WASHINGTON, DC - JANUARY 24: Subcommittee Chairman Rep. Patrick McHenry (R-NC) (L) listens to Committee ranking member Rep. Elijah Cummings (D-MD) (R) as Consumer Financial Protection Bureau Director Richard Cordray (C) looks on prior a hearing before the TARP, Financial Services and...
View Photo »Newly appointed CFPB Chair Richard Cordray smiles as he testifies before the House Oversight and Government Reform Committee Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs hearing on Capitol Hill in Washington, January 24, 2012.
View Photo »WASHINGTON - JANUARY 6: U.S. President Barack Obama (L) delivers remarks beside Richard Cordray (R) during a visit to the Consumer Financial Protection Bureau January 6, 2012 in Washington, DC. Obama named Cordray as head of the Consumer Financial Protection Bureau with a recess...
View Photo »FILE - In this Jan. 6, 2012, file photo President Barack Obama visits the new director of the Consumer Financial Protection Bureau (CFPB), Richard Cordray, right, at CFPB's offices in Washington. Obama's appointments to two key agencies during the Senate's year-end break ensures that...
View Photo »U.S. President Barack Obama shakes hands with Richard Cordray (R) after appointing him to head the Consumer Financial Protection Bureau during a trip to Cleveland, Ohio January 4, 2012. Republicans hoping to be chosen to run against President Barack Obama in the 2012 election blasted...
View Photo »U.S. President Barack Obama puts his hand on the shoulder of Richard Cordray (R) as he announces Cordray as the country's new consumer financial protection watchdog during a trip to Cleveland, Ohio January 4, 2012. The Consumer Financial Protection Bureau was created by the 2010...
View Photo »U.S. President Barack Obama shakes hands with his recess appointee Richard Cordray (R) as head of the country's new consumer financial protection watchdog, sidestepping Republican congressional opposition to his pick during a trip to Cleveland, Ohio January 4, 2012. The Consumer...
View Photo »Guests applaud as Richard Cordray (R), incoming head of the Consumer Financial Protection Bureau, listens as US President Barack Obama speaks about the economy at Shaker Heights High School in Shaker Heights, Ohio, a suburb of Cleveland, on January 4, 2012. Obama announced plans to...
View Photo »US President Barack Obama speaks with William Eason (L) and his wife, Endia (R), alongside Richard Cordray (2nd L), about predatory mortgage lending and the impact on the economy at the Eason's home in Cleveland, Ohio, on January 4, 2012. The Easons almost lost their home after becoming...
View Photo »Richard Cordray stands on the tarmac after arriving on Air Force One with US President Barack Obama at Cleveland Hopkins International Airport in Cleveland, Ohio, on January 4, 2012. Obama plans to appoint Cordray as acting head of the Consumer Financial Protection Bureau in a recess...
View Photo »Richard Cordray, who will be appointed as head of the country's new consumer financial protection watchdog, awaits U.S. President Barack Obama upon their arrival in Cleveland, Ohio January 4, 2012. The Consumer Financial Protection Bureau was created by the 2010 Dodd-Frank financial...
View Photo »White House Senior Advisor President Obama Valerie Jarrett(L) walks with Richard Cordray, who is said to soon be appointed to the consumer financial protection board according to news reports, and followed by Press Secretary Jay Carney(R) towards Marine One January 4, 2012, for a short...
View Photo »President Barack Obama and Richard Cordray, center, visits with William Eason, Wednesday, Jan. 4, 2012, at his home in Cleveland, Ohio. In a defiant display of executive power, President Barack Obama on Wednesday will buck GOP opposition and name Cordray as the nation's chief consumer...
View Photo »Richard Cordray talks with reporters after stepping off Air Force One at Cleveland Hopkins Airport in Cleveland, Ohio, Wednesday, Jan. 4, 2012. In a defiant display of executive power, President Barack Obama on Wednesday will buck GOP opposition and name Cordray as the nation's chief...
View Photo »Richard Cordray, flanked by Richard Cordray, center, flanked by White House senior aide Valerie Jarrett, left, and White House Press Secretary Jay Carney, walks from Air Force One at Cleveland Hopkins Airport in Cleveland, Ohio, Wednesday, Jan. 4, 2012. In a defiant display of executive...
View Photo »Consumer Financial Protection Bureau Director Richard Cordray testifies before a Senate Banking, Housing and Urban Affairs Committee hearing on "Holding the CFPB Accountable: Review of First Semi-annual Report" on Capitol Hill in Washington January 31, 2012.
View Photo »Consumer Financial Protection Bureau Director Richard Cordray testifies on Capitol Hill in Washington, Tuesday, Jan. 31, 2012, before the Senate Banking Committee hearing on "Holding the CFPB Accountable: Review of First Semi-annual Report.
View Photo »Sen. Richard Shelby, R-Ala. , the ranking member of the Senate Banking Committee, questions Consumer Financial Protection Bureau Director Richard Cordray on Capitol Hill in Washington, Tuesday, Jan. 31, 2012, during the committee's hearing on "Holding the CFPB Accountable: Review of First...
View Photo »US President Barack Obama speaks on the Republican obstruction of Richard Cordray’s nomination to head the Consumer Financial Protection Bureau December 8, 2011 in the Brady Briefing Room of the White House in Washington, DC.
View Photo »US President Barack Obama makes his way from the stage after speaking on the Republican obstruction of Richard Cordray’s nomination to head the Consumer Financial Protection Bureau December 8, 2011 in the Brady Briefing Room of the White House in Washington, DC.
View Photo »WASHINGTON, DC - DECEMBER 01: U.S. Secretary of the Treasury Timothy Geithner (R) speaks as Assistant Director of Enforcement for the Consumer Financial Protection Bureau (CFPB) Richard Cordray (L) listens during a press availability December 1, 2011 in Washington, DC. Geithner urged...
View Photo »WASHINGTON, DC - DECEMBER 01: U.S. Secretary of the Treasury Timothy Geithner (3rd L) speaks as (L-R) Assistant Director for the Office of Service member Affairs Holly Petraeus, Assistant Director of Enforcement for the Consumer Financial Protection Bureau (CFPB) Richard Cordray, and...
View Photo »Newly appointed Consumer Financial Protection Bureau (CFPB) Chair Richard Cordray testifies before the House Oversight and Government Reform Committee Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs hearing on Capitol Hill in Washington, January 24, 2012...
View Photo »WASHINGTON, DC - JANUARY 24: Consumer Financial Protection Bureau Director Richard Cordray testifies during a hearing before the TARP, Financial Services and Bailouts of Public and Private Programs Subcommittee of the House Oversight and Government Reform Committee January 24, 2012 on...
View Photo »Rep. Patrick McHenry (R-NC) (L) and newly appointed Consumer Financial Protection Bureau (CFPB) Chair Richard Cordray chat before the House Oversight and Government Reform Committee Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs hearing on Capitol Hill...
View Photo »WASHINGTON, DC - JANUARY 24: Subcommittee Chairman Rep. Patrick McHenry (R-NC) (L) listens to Committee ranking member Rep. Elijah Cummings (D-MD) (R) as Consumer Financial Protection Bureau Director Richard Cordray (C) looks on prior a hearing before the TARP, Financial Services and...
View Photo »We have the opportunity now, we're aggressively moving forward with non bank supervision to level that playing field in these same markets
We have a job to do. We're going to do the job. It's a very important job
Providers need to know that whether they're big or small, and whatever market they're in, they have to follow the law and they have to obey the law ... They can't engage in unfair and deceptive and abusive practices.
