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Obama to Eliminate Warren as Consumer Head

(Bloomberg) – President Barack Obama has chosen a candidate other than Elizabeth Warren as director of the new Consumer Financial Protection Bureau, according to a person briefed on the matter.

The president’s choice is a person who already works at the consumer agency, the person said yesterday. Obama may make the nomination as soon as next week, another person briefed on the administration’s plans said.

    “A separate article in the Wall Street Journal said the short list was narrowed to Raj Date, Richard Cordray and Jennifer Granholm.
    But Granholm already turned down the job, saying Warren deserved it, and she doesn’t work at CFPB.”

“Cop on the Beat” Elizabeth Warren

UPDATE Obama announces pick of Cordray for consumer job

(Reuters) 10 min. ago – President Barack Obama said on Sunday he planned to nominate former Ohio attorney general Richard Cordray to head the new U.S. Consumer Financial Protection Bureau.

“Richard Cordray has spent his career advocating for middle class families, from his tenure as Ohio’s Attorney General, to his most recent role as heading up the enforcement division at the CFPB and looking out for ordinary people in our financial system,” Obama said in a statement.

"But I will not let myself be reduced to silence."

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