Statement From A.G. Schneiderman On The Appointments Of Mary Jo White And Richard Cordray

NEW YORK – Attorney General Eric T. Schneiderman released the following statements today on President Obama’s appointment of Mary Jo White to lead the Securities and Exchange Commission, and the reappointment of Richard Cordray as Director of the Consumer Financial Protection Bureau:

“I applaud President Obama’s appointment of Mary Jo White to head the Securities and Exchange Commission. As U.S. Attorney, Ms. White demonstrated a strong commitment to aggressively enforcing one set of rules for all, and her outstanding record of bringing white collar criminals to justice speaks for itself. She is a tough, experienced prosecutor, which is exactly what the SEC needs right now to restore investor confidence. I look forward to working with Mary Jo White and her team to protect investors, bolster the integrity of our markets, and hold accountable those responsible for financial misconduct.”

“President Obama has done the right thing by re-nominating Richard Cordray to lead the Consumer Financial Protection Bureau and continue serving as a watchdog to hold financial institutions accountable for wrongdoing. More than four years after the financial crisis dragged the economy into recession, there is much work to be done to restore confidence in the markets for everyday people, homeowners, businesses and investors. Director Cordray has played a critically important role in developing a regulatory framework that ensures consumers are protected, and our economy is not vulnerable to another financial meltdown. He deserves to continue the critical work he's started.”