President Obama named former Ohio attorney general Richard Cordray on Monday afternoon as his pick to lead the nation’s powerful new consumer watchdog agency and pledged to fight efforts to undermine financial reform.-- Consumer Financial Protection Bureau.
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But confirming Cordray is an uphill battle for the administration. Forty-four Republican senators have pledged to block any candidate for the job unless Obama agrees to structural changes to the agency.
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Obama’s move has also disappointed many liberals, who had backed controversial Harvard law professor Elizabeth Warren for the post.