Recently Defeated In Election, Consumer-Friendly Ohio AG To Take Battle Against Financial Fraud National

In Columbus, Ohio, The Colombus Dispatch reports:

• Outgoing Ohio Attorney General Richard Cordray has a new federal job lined up, but he still has his eye on a statewide office - most likely governor - in 2014. Cordray confirmed [] that he has been appointed enforcement watchdog for the new U.S. Consumer Financial Protection Bureau, an agency under the umbrella of the Federal Reserve System.

• "It gives me the opportunity to work on a 50-state basis on the issues that are near and dear to my heart in the state of Ohio," Cordray said. He will be the chief enforcer over a broad range of consumer issues, including mortgages, credit cards, student loans and nonbanking financial activities.

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• Cordray, 51, a Democrat, lost his re-election bid last month to Republican Mike DeWine, a former U.S. senator and lieutenant governor. [...] In his two years as attorney general, Cordray was zealous in pursuing fraudulent mortgage and foreclosure practices. He went after GMAC Mortgage; its parent, Ally Financial Inc.; American International Group; and Bank of America Corp.

For more, see Cordray headed to Washington.