Cordray Appointment a Function of Massive Obstructionism by Senate GOP

By: Wednesday January 4, 2012 8:15 am

As mentioned earlier, the President will make a recess appointment today for Richard Cordray to run the Consumer Financial Protection Bureau, opening up the bureau to regulate non-bank financial institutions and giving the new agency its first leader. This is a bold move by the President, and to put it in context, it’s important to [...]

White House Believes It Can Recess-Appoint Cordray to CFPB, Could Happen Today CONFIRMED: Will Happen Today

By: Wednesday January 4, 2012 6:19 am

When I saw President Obama miss his chance to use the “Roosevelt precedent” to appoint Richard Cordray to head the Consumer Financial Protection Bureau, or make any recess appointment, I considered the matter closed. The other two options for Obama to recess-appoint would set new precedents for the Presidency, and I didn’t think he would [...]

Obama Wastes Window of Opportunity for Recess Appointments

By: Tuesday January 3, 2012 10:47 am

During the recess, the President has a number of opportunities to make recess appointments. He could simply determine that the pro forma sessions being used to keep Congress active were insufficient to prevent recess appointments. He could use his Constitutional power to adjourn Congress. But both of those would fly in the face of recent [...]

McConnell Admits President Could Pull Off Recess Appointments

By: Saturday December 17, 2011 1:23 pm

As is typical at the end of the year, Harry Reid attempted to clear out a backlog of uncontroversial Presidential appointments before the holiday break. But Mitch McConnell would not allow it. He wanted assurances, instead, that the President would not seek out any recess appointments during the break, and he objected to moving the [...]

GOP Nullification on CFPB Easily Nullified By a Recess Appointment

By: Monday December 12, 2011 8:15 am

Describing the blockade of Richard Cordray to run the Consumer Financial Protection Bureau as a form of nullification sounds accurate to me. Cordray is almost an afterthought to this issue. Republicans disagree with the concept of a federal agency that looks out for consumers. So they plan to stop any effort to staff the agency [...]

Senate GOP Obstructs Richard Cordray Confirmation for CFPB Director

By: Thursday December 8, 2011 8:15 am

The Senate failed to secure cloture this morning on the nomination of Richard Cordray for director of the Consumer Financial Protection Bureau. The final vote was 53-45. There was some concern that some conservative Democrats would abandon Cordray as well, despite the impeccable credentials and bipartisan support among state Attorneys General. But that didn’t materialize. [...]

CFPB Releases Credit Card Agreement Prototype, Before Cordray Nomination Vote

By: Wednesday December 7, 2011 1:01 pm

Today, the Consumer Financial Protection Bureau unveiled a prototype credit card agreement designed to ease understanding of obligations. The CFPB will test the statement with the Pentagon Federal Credit Union, one of the largest in the nation. Raj Date, the acting director of the CFPB, unveiled the draft in Cleveland today. It’s just two pages [...]

The Roosevelt Precedent: How to Make a Recess Appointment Without a Recess

By: Tuesday December 6, 2011 1:33 pm

The President clearly tried to channel Theodore Roosevelt in his speech in Osawatomie, Kansas today. He focused on fairness and the need to prevent financial elites from ripping off consumers. In one policy recommendation, he demanded that the Senate confirm Richard Cordray on Thursday to run the Consumer Financial Protection Bureay, the new federal agency [...]

White House Plans a Doomed Push to Confirm Cordray to CFPB

By: Monday December 5, 2011 7:35 am

The Obama Administration is making a futile push this week to confirm Richard Cordray as the director of the Consumer Financial Protection Bureau, even though 44 Republican Senators have asserted they will not confirm anyone to that position unless the agency gets a radical transformation to reduce its effectiveness. In a weekend conference call, White [...]

Cordray to Get Confirmation Vote on CFPB Director This Month

By: Friday December 2, 2011 9:35 am

We’re going to see a vote in the next two or three weeks on the confirmation of Richard Cordray for the Consumer Financial Protection Bureau, and that’s paradoxically a pretty bad sign for his confirmation. Indeed, this feels exactly like the unsuccessful confirmations of Dawn Johnsen or Goodwin Liu: a snap confirmation vote that fails, [...]

MA-Sen: Brown, Fearing Warren, Endorses Cordray for CFPB

By: Tuesday November 15, 2011 6:13 am

If you wanted an indication that Scott Brown was in any way nervous about his impending re-election matchup against Elizabeth Warren next year, check out this – he has now officially endorsed Richard Cordray to run the Consumer Financial Protection Bureau, the agency that was the brainchild of his future opponent. The decision is a [...]

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