News / USA

Obama Praises Cordray Confirmation

President Barack Obama (L) and nominee to serve as the first director of the Consumer Financial Protection Bureau (CFPB), former Ohio Attorney General Richard Cordray,  in the Rose Garden of the White House, Jul 18, 2011.President Barack Obama (L) and nominee to serve as the first director of the Consumer Financial Protection Bureau (CFPB), former Ohio Attorney General Richard Cordray, in the Rose Garden of the White House, Jul 18, 2011.
x
President Barack Obama (L) and nominee to serve as the first director of the Consumer Financial Protection Bureau (CFPB), former Ohio Attorney General Richard Cordray,  in the Rose Garden of the White House, Jul 18, 2011.
President Barack Obama (L) and nominee to serve as the first director of the Consumer Financial Protection Bureau (CFPB), former Ohio Attorney General Richard Cordray, in the Rose Garden of the White House, Jul 18, 2011.
VOA News
U.S. President Barack Obama has praised the Senate confirmation of Rich Cordray as head of the Consumer Financial Protection Bureau, the independent consumer watchdog put into place to guard against irresponsible behavior in the financial industry.

In his weekly address Saturday, Obama noted that the Senate finally confirmed Cordray this week with a bipartisan vote, after the president put him in charge of the organization two years ago. He said two years ago, Republicans in the Senate refused to give Cordray "a simple up-or-down vote" because they did not like the law that set up the bureau in the first place.

Obama said since the bureau has been in operation, mortgage lenders, student lenders, payday lenders, and credit reporting and debt collection agencies all face greater scrutiny. He said due to the bureau's work, six million Americans have gotten more than $400 million in refunds from companies that engaged in unscrupulous practices. He said the government has now locked in new safeguards to prevent another financial crisis and end company bailouts for good.

Watch President Obama's weekly address:


In the Republicans' weekly address, two members of the Republican-controlled House of Representatives - Todd Young and Tim Griffin - are calling on the Democratic-controlled Senate to vote on House-approved bills that would delay requirements put into place by Obama's health care reforms.

You May Like

Video VOA Reporter Tours Devastated Peshawar School

Islamist militants wearing military uniforms and strapped with explosives attacked a military run school Tuesday in the northwestern Pakistani city of Peshawar. At least 141 people were killed in the horrific attack, most of them young students. More

Video Sudan School Becomes Target of Aerial Attacks

Dropout rate at an all-time high in South Kordofan state because many schools have been destroyed during 3-year civil war More

Tennessee Songbirds Fly Coop Long Before Tornadoes Arrive

Researchers say birds apparently alerted to danger by sounds at frequencies below range of human hearing More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
US: Response to Sony Hack Will Be Proportionali
X
Aru Pande
December 19, 2014 1:45 AM
The White House says President Barack Obama considers the cyberattack on Sony Corp. a serious national security matter and that the U.S. will counter with an "appropriate response." VOA correspondent Aru Pande reports.
Video

Video US: Response to Sony Hack Will Be Proportional

The White House says President Barack Obama considers the cyberattack on Sony Corp. a serious national security matter and that the U.S. will counter with an "appropriate response." VOA correspondent Aru Pande reports.
Video

Video Sudan School Becomes Target of Aerial Attacks

The school dropout rate is at an all-time high in Sudan's South Kordofan state because many schools have been destroyed during the three-year civil war between the government and SPLA-N rebel forces. Adam Bailes visited Sudan's Nuba Mountains' region and reports many children are simply too scared to go to school
Video

Video Nigerians Fleeing Boko Haram Languish in Camp Near Capital

In its five-year effort to impose Islamic law in northeastern Nigeria, the Boko Haram extremist group has killed thousands of people and forced hundreds of thousands to flee. Some of those who ran for their lives now live in squalor on the edges of the capital, Abuja. Chris Stein reports for VOA.
Video

Video Putin Says Russian Economy Will Emerge Stronger

Russian President Vladimir Putin has said his country's sinking economy will not only recover but also become stronger, despite falling oil prices and Western sanctions over Ukraine. VOA's Daniel Schearf reports.
Video

Video Detained Turkish Journalists Follow Teachings of US-Based Preacher

The Turkish government’s jailing of critical journalists has sparked international condemnation and is being seen as an effort to undermine the followers of an ailing Turkish preacher based in the United States. VOA religion reporter Jerome Socolovsky has more.
Video

Video ‘Anti-Islamization’ Marches Increase Tensions In Germany

Anti-immigrant rallies in Germany have been building in recent weeks, peaking Monday night in the city of Dresden where tens of thousands of people turned out to demonstrate against what they call the ‘Islamization’ of the West. Germany has offered asylum to more Syrian refugees than any other country, and this appears to have set off the protests. Henry Ridgwell reports from London.
Video

Video Aceh Rebuilt Decade After Tsunami, But Scars Remain

On December 26, 2004 there was an earthquake in the Indian Ocean so powerful it caused the Earth’s axis to wobble a few centimeters. Onshore on the island of Sumatra, the resulting tsunami was devastating. A decade later, VOA Correspondent Steve Herman reports from Banda Aceh, Indonesia, where although there is little remaining evidence of the physical devastation, the psychological scars among survivors remain.
Video

Video Refugees Living in Kenya Long for Peace in the Home Countries

Kenya is host to numerous refugees seeking safe haven from conflict. Immigrants from Somalia face challenges in their new lives in Kenya. Ahead of International Migrants Day (December 18) Lenny Ruvaga has more for VOA News from the Kenyan capital.

All About America

AppleAndroid