Every day across America, consumers face issues with credit cards, mortgages, car loans, and student loans. When they are cheated or mistreated, all too often they hit a brick wall against the financial companies. People are fed up with being run over by big corporations, and few have the resources or expertise to fight back on their own. It is no wonder consumers feel powerless: they are outgunned every step of the way. Since 1970, the financial industry has doubled in size. It is the biggest source of campaign contributions to federal candidates and parties, spending about $1 billion annually on campaigns and another $500 million on lobbying. The four biggest banks each now has more than $1 trillion in assets. Financial products have become a mass of fine print that consumers can hardly even read, let alone understand. Growing problems in the increasingly one-sided finance markets blew up the economy in 2008. In the aftermath, Congress created the Consumer Financial Protection Bureau. Sharing the stories of individual consumers, Watchdog shows how the Bureau quickly became a powerful force for good, suing big banks for cheating or deceiving consumers, putting limits on predatory lenders, simplifying mortgage paperwork, and stepping in to help solve problems raised by individual consumers. It tells a hopeful story of how our system can be reformed by putting government back on the side of the people, to strengthen our families, safeguard the marketplace, and establish a new baseline of fairness in our democratic society.

About the Author
Richard Cordray served for six years as the first Director of the Consumer Financial Protection Bureau. Before joining the Consumer Bureau, Rich served as Ohio's Attorney General. He also served as Ohio Treasurer, where he led the State's banking, investment, debt, and financing activities. He previously taught at Ohio State's law school and served as a state legislator and as Ohio's first Solicitor General. Cordray has argued seven cases before the U.S. Supreme Court, including by special appointment of both the Clinton and Bush Justice Departments.

Reviews
"Watchdog is the harrowing story of how the Consumer Financial Protection Bureau grew up and became a major force for fairness in the marketplace. Rich shows what a difference good government can make for millions of Americans. Along the way, he describes in vivid detail the tough fights the Consumer Bureau took on and what it meant for every household in America." -- Sen. Elizabeth Warren, from the Foreword to Watchdog "Watchdog provides a compelling behind-the-scenes story about the Consumer Financial Protection Bureau. Rich Cordray's first-hand account demonstrates the positive impact that government can have if its leaders are solely dedicated to supporting and protecting people and their families." -- Valerie Jarrett, former Senior Advisor to President Barack Obama "Rich Cordray keenly understands that economic rights are civil rights. In his new book, Watchdog, he tells the fascinating story of how as leader of the CFPB he and his team worked to protect the vulnerable, empower consumers, and root out lending discrimination all over the country." -- Andrew Young, civil rights leader and former US Ambassador to the United Nations "Richard Cordray is a true American hero, a tremendous public servant who listens to all sides and who is fiercely dedicated to the American people. This book is an inspiring tale of a potent combination: terrific ideas, determination, and sheer idealism. If you care about consumers or the vulnerable, this is your best guide to the achievements of the recent past-and to the boundless possibilities of the future." -- Cass Sunstein, author of How Change Happens "Led by Richard Cordray, the CFPB was a stunning success, recovering $12 billion for millions of consumers from lenders who cheated or defrauded them. As the champion of the forgotten working families of America, it went after lenders and others for charging people of color more for mortgages, auto loans, and credit cards. This timely book shows how critical that work continues to be." -- Rev. Jesse Jackson, Rainbow/PUSH founder, former shadow US Senator (DC) "Watchdog serves an important, impressive purpose in demonstrating how effective government agencies can be, with concrete resolutions and real dollars kept in the hands that earned them. At very least, readers will learn what they're up against." -- The San Francisco Review of Books "This well-reasoned and articulate manifesto will resonate with liberal readers." -- Publishers Weekly



Book Information
ISBN 9780197502990
Author Richard Cordray
Format Hardback
Page Count 304
Imprint Oxford University Press Inc
Publisher Oxford University Press Inc
Weight(grams) 590g
Dimensions(mm) 163mm * 236mm * 33mm