U.S. Senator Ben Sasse, a member of the Senate Finance Committee, issued the following statement regarding news that President Biden is considering Richard Cordray, the first director of the unconstitutional and unaccountable Consumer Financial Protection Bureau, to serve as the Federal Reserve’s top banking regulator.

“Richard Cordray is a wannabe king who disdains accountability and thinks every single problem on earth should be tackled with a one-size-fits-all, big-government approach from a bureaucracy that regular Americans cannot control. The Senate should block King Richard Cordray.”