Warren: With Cordray confirmation, 'David beat Goliath'

Richard Cordray’s confirmation to the Consumer Financial Protection Bureau removes previous limits on the agency’s power and makes the agency fully legitimate, according to Sen. Elizabeth Warren, D-Mass.

“It took nearly two years, but … now the American people will have a strong watchdog in Washington,” Warren said. “David beat Goliath.”

“The consumer agency is the law of the land and is here to stay,” she added in a statement.

The CFPB, Warren’s brainchild, has been fraught with controversy since its creation. After Cordray’s confirmation, Republicans declared they would continue to push for changes to limit the agency’s power.

Source: Mother Jones