Cordray Gets Recess Appointment to Head CFPB
President Obama has made a recess appointment of Richard Cordray to head the Consumer Financial Protection Bureau (“CFPB”). The President had nominated Cordray as the Director in July, but Senate Republicans blocked Cordray’s confirmation last month. Yesterday’s recess appointment circumventing Senate approval has already triggered criticism from Republicans, who have claimed that the President “arrogantly circumvented the American people” and called the appointment an “extraordinary and entirely unprecedented power grab.”
See the post on our sister site, the Consumer Finance Law Blog, for a bit more detail.