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bigtree

(86,005 posts) Sat Jul 20, 2013, 09:43 AM Jul 2013

Pres Obama: We set up CFPB, first-ever independent consumer watchdog, w/one job: to protect families

Jay Carney (EOP) ?@PressSec 10m
Obama: "We set up @CFPB, the first-ever independent consumer watchdog with one job: to protect families." Watch:

The White House Blog ?@blog44 58m
Weekly Address: Confirming Rich Cordray to Lead the CFPB http://at.wh.gov/2yv15z

In this week’s address, President Obama discusses the Senate’s confirmation of Rich Cordray as Director of the Consumer Financial Protection Bureau. The CFPB is an independent watchdog set up to protect families from irresponsible behavior in the financial sector – one that puts mortgage lenders, student lenders, payday lenders, and credit reporting and debt collection agencies under greater scrutiny, while providing the American people a place to get some measure of justice if they don’t play by the rules.

read transcript: http://www.whitehouse.gov/the-press-office/2013/07/20/weekly-address-confirming-rich-cordray-lead-cfpb

watch: http://www.whitehouse.gov/blog/2013/07/20/weekly-address-confirming-rich-cordray-lead-cfpb

16 replies

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Highlight:

Pres Obama: We set up CFPB, first-ever independent consumer watchdog, w/one job: to protect families (Original Post) bigtree Jul 2013 OP

"We" or "I"? Igel Jul 2013 #1

You do realize that bigtree wasn't quoting the President and that he was trying to edit grantcart Jul 2013 #2

okay, got the 'we' to fit in the title bigtree Jul 2013 #14

To quote the VP this actually is a BFD. grantcart Jul 2013 #3

Meanwhile ...what's that TPA thingy gonna do for families ...in this country? L0oniX Jul 2013 #4

Good news! Scurrilous Jul 2013 #5

DU rec...nt SidDithers Jul 2013 #6

President Obama is the most effective consumer advocate to ever hold the office of President. nt AllINeedIsCoffee Jul 2013 #7

I'll admit I'm not as well versed on this agency, but isn't this the sort of thing the Justice Dept. hughee99 Jul 2013 #8

No. Not at all. Zoeisright Jul 2013 #10

I understand that the Justice department wasn't doing the job hughee99 Jul 2013 #12

K&R BumRushDaShow Jul 2013 #9

and it's about d*mn time, and thanks to Harry Reid. eom a kennedy Jul 2013 #11

K&R! Grateful for Hope Jul 2013 #13

Short memory.. It was Elizabeth Warren who set up the Consumer Financial Protection Bureau 1-Old-Man Jul 2013 #15

there wouldn't be an operating agency without the president's independent action bigtree Jul 2013 #16

Igel

(35,359 posts)

1. "We" or "I"?

Reply to bigtree (Original post)

Sat Jul 20, 2013, 02:24 PM

Jul 2013

One shares the credit.

The other claims all the credit.

Which is it?

grantcart

(53,061 posts)

2. You do realize that bigtree wasn't quoting the President and that he was trying to edit

Reply to Igel (Reply #1)

Sat Jul 20, 2013, 02:29 PM

Jul 2013

a long subject title to fit a limited space.

Here is from the link which apparently you were unable to access:

Hi, everybody. Three years ago this weekend, we put in place tough new rules of the road for the financial sector so that irresponsible behavior on the part of the few could never again cause a crisis that harms millions of middle-class families.

As part of that reform, we set up the Consumer Financial Protection Bureau, the first-ever independent consumer watchdog with one job: to protect families from that sort of behavior.

Two years ago, I nominated a man named Rich Cordray, a former attorney general from Ohio, to run this consumer protection bureau. But Republicans in the Senate refused to give him a simple up-or-down vote, not because they didn’t think he was the right person for the job, but because they didn’t like the law that set up the consumer watchdog in the first place.

So last year, I acted on my own to put him in charge – because without a director, the CFPB couldn’t use all the tools at its disposal to protect consumers from shady mortgage lenders, or unscrupulous credit reporting agencies, or predatory lenders who targeted veterans and seniors. And I’m pleased to say that he was finally confirmed this week by a bipartisan vote.

Do you have any problem with any of the President's actual use of pronouns?

bigtree

(86,005 posts)

14. okay, got the 'we' to fit in the title

Reply to Igel (Reply #1)

Sun Jul 21, 2013, 08:04 AM

Jul 2013

. . . but I know only ONE president who stuck his neck out to fill the chief position in that agency and allow it to operate; despite obstruction from republicans in Congress and the inability of the Senate Dems to make it happen.

grantcart

(53,061 posts)

3. To quote the VP this actually is a BFD.

Reply to bigtree (Original post)

Sat Jul 20, 2013, 02:30 PM

Jul 2013

L0oniX

(31,493 posts)

4. Meanwhile ...what's that TPA thingy gonna do for families ...in this country?

Reply to bigtree (Original post)

Sat Jul 20, 2013, 02:35 PM

Jul 2013

Scurrilous

(38,687 posts)

5. Good news!

Reply to bigtree (Original post)

Sat Jul 20, 2013, 06:28 PM

Jul 2013

K & R

SidDithers

(44,228 posts)

6. DU rec...nt

Reply to bigtree (Original post)

Sat Jul 20, 2013, 06:38 PM

Jul 2013

Sid

AllINeedIsCoffee

(772 posts)

7. President Obama is the most effective consumer advocate to ever hold the office of President. nt

Reply to bigtree (Original post)

Sat Jul 20, 2013, 06:39 PM

Jul 2013

hughee99

(16,113 posts)

8. I'll admit I'm not as well versed on this agency, but isn't this the sort of thing the Justice Dept.

Reply to bigtree (Original post)

Sat Jul 20, 2013, 06:46 PM

Jul 2013

is supposed to do?

Zoeisright

(8,339 posts)

10. No. Not at all.

Reply to hughee99 (Reply #8)

Sat Jul 20, 2013, 07:55 PM

Jul 2013

This agency was really needed. Kudos to the President.

hughee99

(16,113 posts)

12. I understand that the Justice department wasn't doing the job

Reply to Zoeisright (Reply #10)

Sat Jul 20, 2013, 08:02 PM

Jul 2013

of protecting people from corporate fraud and deception, but isn't that one of the things they're supposed to do?

BumRushDaShow

(129,587 posts)

9. K&R

Reply to bigtree (Original post)

Sat Jul 20, 2013, 06:46 PM

Jul 2013

Heard the address on the radio this morning. Bravo and glad the agency finally has a permanent head!

a kennedy

(29,716 posts)

11. and it's about d*mn time, and thanks to Harry Reid. eom

Reply to BumRushDaShow (Reply #9)

Sat Jul 20, 2013, 07:59 PM

Jul 2013

Grateful for Hope

(39,320 posts)

13. K&R!

Reply to bigtree (Original post)

Sun Jul 21, 2013, 07:33 AM

Jul 2013

1-Old-Man

(2,667 posts)

15. Short memory.. It was Elizabeth Warren who set up the Consumer Financial Protection Bureau

Reply to bigtree (Original post)

Sun Jul 21, 2013, 08:26 AM

Jul 2013

and then it was President Obama who would not stand up to the Republicans when "we" tried to get her confirmed as the head of that agency.

bigtree

(86,005 posts)

16. there wouldn't be an operating agency without the president's independent action

Reply to 1-Old-Man (Reply #15)

Sun Jul 21, 2013, 09:31 AM

Jul 2013

. . . to establish and authorize an agency head.

Short memory, indeed. Does 'Richard Cordray' mean anything to you?

Besides, he was making a deeper point about the purpose of the agency. The criticism sounds like much of the sour grapes around here whenever someone tries to credit this president for anything. Thankfully, they're usually such transparent pouts that they fail on the first begrudging word to appeal to anyone outside of the tiny circle of constant critics of this administration.

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