Financial Services Democrats Congratulate Acting Director Leandra English on New Role at CFPB
WASHINGTON, DC – Today, Congressman Bill Foster (D-IL) led a letter of congratulations with 17 members of the Financial Services Committee to acting Director Leandra English at the Consumer Financial Protection Bureau (CFPB). Former Director of the CFPB Richard Cordray appointed English to the Deputy Director position last week after he announced his resignation. The Dodd-Frank Wall Street Reform and Consumer Protection Act specifies that the Deputy Director becomes the acting Director in the absence of a Director confirmed by the Senate.
“I want to congratulate Leandra English on her new role as acting Director of the Consumer Financial Protection Bureau,” Foster said. “Too many Americans suffered financial losses during the Great Recession, so I am very proud of the work Congress did on Dodd-Frank. We need regulation and rules to prevent a similar collapse in the future. The CFPB was one component of the legislation Congress put into place in 2010 to protect our economy from another financial crisis. As an independent organization, the CFPB has protected consumers in a marketplace that is fair and transparent.”
“Leandra English has a long record of standing up for consumers, and I’m so pleased that she is the new Acting Director of the CFPB. Richard Cordray left big shoes to fill, but I’m confident that Acting Director English will continue his — and the Bureau’s — outstanding work, and will continue cracking down on abusive financial practices,” said Congresswoman Carolyn Maloney (D-NY).
The CFPB was founded in 2010 as a part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Since 2010, it has returned $12 billion to consumers.
A copy of the letter is available here.