President Obama Nominates Ohio Attorney General Richard Cordray as Director of the Consumer Financial Protection Bureau

President Barack Obama announces the nomination of former Ohio Attorney General Richard Cordray, right, as the first director of the Consumer Financial Protection Bureau (CFPB) during a statement in the Rose Garden of the White House, July 18, 2011. At left is Elizabeth Warren, interim director of the CFPB. (Official White House Photo by Lawrence Jackson)