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NEW JOB Cordray to Lead Consumer Agency Kiichiro Sato, File / AP Photo

Cordray to Lead Consumer Agency

President Obama said Sunday he would nominate Richard Cordray, the former attorney general of Ohio, to head the new Consumer Financial Protection Bureau. But Obama passed over Elizabeth Warren, the Harvard professor who conceived and championed the bureau, a move that will likely inflame supporters of Warren. White House officials reportedly concluded that Warren was too unpopular with lawmakers. But Republican senators said they would also block the confirmation of Cordray, who's known for fighting mortgage lenders aggressively.

July 17, 2011 3:48 PM