Richard Cordray, the enforcement chief at the Consumer Financial Protection Bureau (CFPB), will be named to lead the new regulator, the Obama administration said Sunday.

The selection of Cordray, formerly the Ohio attorney general, provided some certainty about the bureau's leadership after months of speculation over whom the White House would appoint. Several names had been floated, including Harvard professor Elizabeth Warren, the bureau's chief architect now advising the administration on its launch.

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