The Consumer Financial Protection Bureau and Veterans

Elizabeth Warren helped set up the Consumer Financial Protection Bureau but, realizing she would not be approved by Congress for the job permanently, decided to run for a Massachusetts Senate seat instead.  President Obama nominated former Ohio Attorney General Richard Cordray instead, but his confirmation has been blocked by Senate Republicans, who want to prevent the agency from having a centralized organization.  I called Sen. Toomey's office last month asking that the Senator approve Mr. Cordray's nomination.  So far his office has not replied and it does not appear that Sen. Toomey is taking my input seriously. 

One reasons it is so important that this agency get up and running is that it includes an office devoted to protecting veterans and service members from fraudulent and misleading companies.  This office, the Office of Servicemember Affairs, is currently heading by Holly Knowlton Petraeus, the wife of CIA Director and former Gen. David Petraeus.  

Patrick Murphy, former congressman for Pennsylvania's 8th district and current candidate for Pennsylvania Attorney General, was the first Iraq War veteran elected to Congress, has long been an advocate of those who are or have served in the military.  He has repeatedly called on the Senate to confirm Cordray. 

Perhaps if a few more people called Sen. Toomey he would take the suggestion more seriously.  Just a thought.

Read more:

Treasury Dept. blog entry on how the blocked confirmation affects veterans

Note from Senate Banking Committee Chair, Sen. Tim Johnson, on financial protections for veterans

Statement from Patrick Murphy