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AP reports: “Reigniting a partisan fight over banking regulations, President Barack Obama intends to nominate former Ohio Attorney General Richard Cordray to lead a consumer protection bureau that was a central feature of a law overhauling the rules that govern the financial sector.

“Obama plans to announce the nomination formally on Monday, the White House said Sunday. Republicans immediately threatened to block Cordray’s Senate confirmation. In choosing Cordray, Obama bypassed Elizabeth Warren, a favorite of consumer groups

“But consumer advocate and one-time presidential candidate Ralph Nader called bypassing Warren ‘an act of political cowardliness by President Obama.’

“‘Elizabeth Warren apparently is just too good, too smart, too able to arouse the just concerns of millions of American families over the need to put the law-and-order wood to the corporate criminals, defrauders and reckless speculators,’ Nader said.”