This past week, former Ohio Attorney General Richard Cordray gave testimony in Washington about his nomination to head the new Consumer Financial Protection Bureau. The Bureau was established by Congress to keep a tight reign on bank shenanigans. Democrats favor it, but the Republican majority in the new Congress believes the Bureau would be too powerful and might do more harm than good. Now the agency is in limbo. On the next Sound of Ideas, Plain Dealer Consumer Affairs columnist Sheryl Harris joins us as we dissect the politics and examine the Bureau's mission.
