President Obama discusses his nominations to head the SEC and the Consumer Financial Protection Bureau:
"But it's not enough to change the law - we also need cops on the beat to enforce the law. And that's why, on Thursday, I nominated Mary Jo White to lead the Securities and Exchange Commission and, Richard Cordray to continue leading the Consumer Financial Protection Bureau.
Mary Jo White has decades of experience cracking down on white-collar criminals and bringing mobsters and terrorists to justice. At the SEC, she will help complete the task of reforming Wall Street and to keep going after irresponsible behavior in the financial industry so that taxpayers don't pay the price.
Richard Cordray is a champion for American consumers. After the Senate refused to allow Richard an up-or-down vote when I nominated him in 2011, I took action to appoint him on my own. And since then, he's helped protect Americans from predatory lenders, launched a "Know Before You Owe" campaign to help families make smart decisions about paying for college, and cracked down on credit card companies that charge hidden fees. But Richard's appointment runs out at the end of the year, and in order for him to stay on the job, the Senate needs to finally give him the vote he deserves."
President Obama's Weekly Address: