Cordray said California lacks the resources to fully supplant the CFPB as the nation's consumer financial protection leader. But he said the state is in a position to make up for much of the shortfall at the federal level.
His main advice to California officials: Be strong, be committed. "A lot depends on willpower," Cordray said.
The Golden State has never lacked for that.
About The Writer
David Lazarus, a Los Angeles Times columnist, writes on consumer issues. He can be reached at firstname.lastname@example.org.
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