Obama commends work of consumer protection agency

President Barack Obama is commending the work of a consumer protection agency created after the economic crisis.

President Barack Obama, left, speaks as Richard Cordray, right, the new director of the Consumer Financial Protection Bureau, listens during a statement in the State Dining Room of the White House in Washington, Wednesday, July 17, 2013. The Senate voted on Tuesday, July 16, 2013, to end a two-year Republican blockade that was preventing Cordray from winning confirmation as director of the Consumer Financial Protection Bureau. (AP Photo/Susan Walsh)

WASHINGTON (AP) - 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.

In his weekly radio and Internet address, Obama says consumers can go to the agency to "get some measure of justice" when financial institutions disregard the rules.

He says the bureau has addressed more than 175,000 complaints and has helped recover more than $400 million in refunds for consumers.

In the Republican message, congressmen Todd Young of Indiana and Tim Griffin of Arkansas are calling on the Democratic-controlled Senate to vote on bills passed by the House to delay requirements on individuals and businesses by Obama's health care law.


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