Consumer Financial Protection Bureau Director Richard Cordray said the bureau fully intends to be the cop on the beat taking on the four Ds: Debt traps, dead-end markets, deceptive marketing and discrimination.
Bureau reiterates focus on payday lending, concerned consumers are getting trapped in the loans.
Nominee Cyrus Amir-Mokri currently is senior counsel at Commodities Future Trading Commission.
Assistant Treasury Secretary Michael Barr, who oversees the department's work on credit unions, banks and other financial institutions, plans to leave office by the end of the year to return to academia.
The Consumer Financial Protection Bureau probably won't be up and running until early next year, but the NCUA, other agencies and the credit union trade associations are already starting to gear up.