White House to urge GOP backing for Richard Cordray

Keep on keepin’ on, Cordray.

WASHINGTON (AP) — President Barack Obama will nominate Mary Jo White to lead the Securities and Exchange Commission, tapping an attorney with broad experience in prosecuting white-collar crimes to lead an agency that has a central role in implementing Wall Street reform. A White House official said the president would announce White's nomination during a ceremony in the State Dining Room Thursday afternoon.

Richard Cordray, who became head of the Consumer Financial Protection Bureau by recess appointment, tells a House subcommittee he would not abuse his power and only go after firms that break the law.Richard Cordray, head of the Consumer Financial Protection Bureau, told lawmakers that he would not abuse his power and promised that the agency would take action only against companies that break the law.

WASHINGTON — President Barack Obama will nominate Mary Jo White to lead the Securities and Exchange Commission, tapping an attorney with broad experience in prosecuting white-collar crimes to lead an agency that has a central role in implementing Wall Street reform. A White House official said the president would announce White’s nomination during a ceremony in the State Dining Room Thursday afternoon. At the same event, Obama will renominate Richard Cordray to serve as head of the Consumer Financial Protection Bureau, the official said.

WASHINGTON — President Barack Obama will nominate Mary Jo White to lead the Securities and Exchange Commission, tapping an attorney with broad experience in prosecuting white-collar crimes to lead an agency that has a central role in implementing Wall Street reform. A White House official said the president would announce White’s nomination during a ceremony in the State Dining Room Thursday afternoon. At the same event, Obama will renominate Richard Cordray to serve as head of the Consumer Financial Protection Bureau, the official said.

At a news conference, President Obama says Republicans, who are trying to hold up Richard Cordray's nomination to lead the Consumer Financial Protection Bureau, 'want to roll back the whole notion of having a consumer watchdog' for financial products.President Obama made a public pitch for the Senate to confirm Richard Cordray to head the new Consumer Financial Protection Bureau and accused Republicans of wanting to roll back key financial reforms that could protect the country from a future crisis.

Republicans on Thursday blocked the Senate from voting on the nomination of Richard Cordray to be the first director of the Consumer Financial Protection Bureau.