WASHINGTON, DC - JULY 18: U.S. President Barack Obama (L) speaks during a presser to announce his nomination of former Ohio Attorney General Richard Cordray (not pictured) as head of the in the Consumer Financial Protection Bureau while U.S. Treasury Secretary Timothy Geithner (L), and Special Advisor on the Consumer Financial Protection Bureau Elizabeth Warren (C) listen in the Rose Garden at the White House on July 18, 2011 in Washington, DC. The new bureau was created under a reform bill last year and intends to make basic financial practices such as taking out a mortgage or loan more clear and transparent to consumers while weeding out unfair lending practices.
