Senate Breaking News: Obama Commends Richard Cordray Confirmation, Work Of Consumer Financial Protection Bureau

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Senate Breaking News: Obama Commends Richard Cordray Confirmation, Work Of Consumer Financial Protection Bureau

Senate Breaking News: Obama Commends Richard Cordray Confirmation, Work Of Consumer Financial Protection Bureau
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Senate Breaking News: Obama Commends Richard Cordray Confirmation, Work Of Consumer Financial Protection Bureau

Wochit 1:09 mins

President Barack Obama is commending the work of a consumer protection agency created after the economic crisis. The Consumer Financial Protection Bureau got its first permanent director this week after the Senate voted to install Richard Cordray after years of delay. The White House is looking for ways to help the city of Detroit after the city filed for bankruptcy protection on Thursday, but Vice President Joe Biden said it was unclear what the administration could do. "Can we help Detroit?" Biden said in a response to a question from a reporter. "We don't know." Detroit, a former manufacturing powerhouse and cradle of the U.S. automotive industry, filed for Chapter 9 bankruptcy protection, making it the largest municipal bankruptcy in U.S. history. The Senate has confirmed Gina McCarthy as the next leader of the Environmental Protection Agency. The vote was 59-40.

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