Improving American’s Financial Security: “..one of the most important components of Wall Street reform is putting in place a Director of the new CFPB. It is only with a Director that the CFPB can exercise its full authorities and make good on the consumer protection goals of Wall Street Reform. Without a Director, the CFPB cannot fully supervise1 non‐bank financial institutions such as independent payday lenders, non‐bank mortgage lenders, non‐bank mortgage servicers, debt collectors, credit reporting agencies and private student lenders. Without a Director, Americans will not be protected from falling prey to many of the harmful practices that contributed to the worst financial crisis since the Great Depression. CFPB’s inability to exercise its full authority while it awaits a Director affects the lives and financial security of tens of millions of American families who rely on non‐bank financial institutions for their financial needs. Indeed, whether it is shopping for a mortgage or private student loan, or having one’s credit report used in a lending decision, many middle class families are reliant upon non‐bank financial actors.”