Obama to Appoint Consumer Financial Protection Bureau Director

Richard CordrayFrom Housingwire, MHProNews.com has learned that President Barack Obama will install former Ohio Attorney General Richard Cordray as director of the Consumer Financial Protection Bureau. Senators met briefly for a pro forma session Tuesday, although the Senate is currently in recess until Jan. 23. Senate Republicans blocked the appointment early in December. White House Communications Director Dan Pfeiffer announced the appointment Wednesday morning via the White House blog. The Constitution gives the president the power to fill vacancies during Senate recess with terms that expire at the end of the following Senate session. Consumer advocates applauded the recess appointment. Senate Minority Leader Mitch McConnell (R.-Ky.) was critical of the appointment.

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