Cordray vows to protect consumers as head of watchdog (Reuters)

CLEVELAND (Reuters) ? President Barack Obama's nominee to head a new financial watchdog agency said on Wednesday he was ready to get to work, and would not be distracted by challenges to his appointment.

"I can't be distracted by that. I've got a big job to do and I need to be 100 percent focused on what we can do to protect American consumers," Richard Cordray told Reuters.

He said his first order of business would be to expand enforcement of non-bank financial institutions, such as payday lenders, which the Consumer Financial Protection Bureau has not been able to address without a chief.

(Reporting By Matt Spetalnick; Editing by Sandra Maler)

Source: http://us.rd.yahoo.com/dailynews/rss/uscongress/*http%3A//news.yahoo.com/s/nm/20120104/ts_nm/us_financial_regulation_cordray

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