1981 Marshall Scholar Richard Cordray
Richard Cordray, former Ohio Attorney General, was nominated by President Obama on 18 July 2011 to head the newly-formed Consumer Financial Protection Bureau (CFPB) pending Congressional approval. Cordray's nomination surprised many observers who expected Obama would appoint Harvard Law School Professor Elizabeth Warren who was instrumental in creating the bureau.
Cordray, a Democrat and native of Ohio, served in the Ohio State House of Representatives from 1991 until 1992. In 1993, Cordray was appointed by the Ohio attorney general as the first State Solicitor to oversee cases to be argued before both the Ohio and US Supreme Court. He then served as Ohio State Treasurer (2007-2009) and Ohio Attorney General (2009-2011). Upon losing his re-election bid, he was chosen by Elizabeth Warren to lead the enforcement arm of the CFPB, citing his multiple lawsuits on behalf of investors against banks and lenders during his tenure as Attorney General.
Cordray was known among Ohio Republicans and Democrats alike for a tough approach to the financial services industry and as a vigorous defender against consumer rights abuses. In his role with the CFPB, Cordray spoke about his hope to forge greater cooperation between federal agencies and state attorneys general.
Currently the top enforcement officer at CFPB, Cordray received his Bachelor's degree from Michigan State University, was a Marshall Scholar at Brasenose College, University of Oxford and a graduate of University of Chicago Law School.