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Majority of Senate votes to confirm consumer bureau leader
July 16, 2013 / 9:40 PM / 4 years ago

Majority of Senate votes to confirm consumer bureau leader

President Barack Obama (R) speaks next to Richard Cordray after Obama announced Cordray's renomination to lead the Consumer Financial Protection Bureau in the State Dining Room of the White House in Washington, January 24, 2013. REUTERS/Larry Downing

WASHINGTON (Reuters) - A majority of senators voted on Tuesday to confirm Richard Cordray as director of the Consumer Financial Protection Bureau, nearly two years after he was first nominated to the post.

Cordray was nominated in 2011 and had been serving as the bureau’s leader in a temporary role since January 2012. The consumer bureau, which was created by the 2010 Dodd-Frank law, oversees mortgages, credit cards and other consumer financial products.

Reporting by Emily Stephenson

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