Tim Fernholz is a former staff writer for the Prospect. His work has been published by Newsweek, The New Republic, The Nation, The Guardian, and The Daily Beast. He is also a Research Fellow at the New America Foundation.
The fledgling Consumer Financial Protection Bureau, which now has almost 100 employees, just announced a new employee: Former Ohio Attorney General Richard Cordray, whom you may remember from the robo-signing fiasco: He was one of the first state attorneys general to take mortgage servicers to court for attempting to foreclose on borrowers without legal standing. Now, Cordray will head the enforcement division of the CFPB's implementation team, the group of Treasury officials, headed by Elizabeth Warren, currently preparing the CFPB for the full assumption of its authorities in July.