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President Barack Obama Thursday appointed two key financial regulators, naming Consumer Financial Protection Bureau Director Richard Cordray to a full, five-year term, and nominating former federal prosecutor Mary Jo White to chair the Securities and Exchange Commission.

NAFCU President/CEO Fred Becker said he appreciates Cordray’s outreach to credit unions on regulatory matters and the bureau’s willingness to hear and take into account concerns raised by the credit union industry. Although NAFCU has advocated a five-member commission to oversee the CFPB rather than a single administrator, the trade said it has forged a strong working relationship with Cordray.

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