Tell Your Senators: Confirm Richard Cordray to Lead the Consumer Financial Protection Bureau

Photograph of Richard Cordray.

President Obama nominated Richard Cordray to lead the Consumer Financial Protection Bureau (CFPB).

It is disappointing that the president didn’t pick Elizabeth Warren.

But it is heartening that Elizabeth Warren picked Richard Cordray.

Warren chose Cordray, a former Ohio State Attorney General, to be in charge of the new consumer protection agency’s enforcement division. She did so because of his history of standing up for consumers and winning against Wall Street and big banks when they try to rip off their customers.

The new Consumer Financial Protection Bureau is just beginning its work. But, until a confirmed director is in place, the agency won’t be able to do its job nearly as effectively or aggressively as is necessary to thwart future financial catastrophes. By law the agency does not gain some of its authority until a director is in place.

Tell your senators: Confirm Richard Cordray.

Copyright © 2012 Public Citizen. All rights reserved. This Web site is shared by Public Citizen Inc. and Public Citizen Foundation.
  Learn More about the distinction between these two components of Public Citizen.


Public Citizen, Inc. and Public Citizen Foundation

 

Together, two separate corporate entities called Public Citizen, Inc. and Public Citizen Foundation, Inc., form Public Citizen. Both entities are part of the same overall organization, and this Web site refers to the two organizations collectively as Public Citizen.

Although the work of the two components overlaps, some activities are done by one component and not the other. The primary distinction is with respect to lobbying activity. Public Citizen, Inc., an IRS § 501(c)(4) entity, lobbies Congress to advance Public Citizen’s mission of protecting public health and safety, advancing government transparency, and urging corporate accountability. Public Citizen Foundation, however, is an IRS § 501(c)(3) organization. Accordingly, its ability to engage in lobbying is limited by federal law, but it may receive donations that are tax-deductible by the contributor. Public Citizen Inc. does most of the lobbying activity discussed on the Public Citizen Web site. Public Citizen Foundation performs most of the litigation and education activities discussed on the Web site.

You may make a contribution to Public Citizen, Inc., Public Citizen Foundation, or both. Contributions to both organizations are used to support our public interest work. However, each Public Citizen component will use only the funds contributed directly to it to carry out the activities it conducts as part of Public Citizen’s mission. Only gifts to the Foundation are tax-deductible. Individuals who want to join Public Citizen should make a contribution to Public Citizen, Inc., which will not be tax deductible.

 

To become a member of Public Citizen, click here.
To become a member and make an additional tax-deductible donation to Public Citizen Foundation, click here.