Obama Makes Recess Appointment Of Cordray As Head Of Consumer Agency

It looks like the wounded Consumer Financial Protection Bureau is not dead yet, despite Republican efforts. Today President Obama announced he will name Richard Cordray as director of the CFPB in a high profile recess appointment that is sure to draw fire from both the right and the left.

Republicans unanimously oppose Cordray, though not for any specific reason other than they oppose the consumer protection agency on principle. Republicans blocked Cordray’s appointment after successfully blocking an Elizabeth Warren nomination as well.

Once Cordray is named the agency can move forward in establishing new regulations over financial institutions and finally put into effect the financial services reform passed by Congress in the last term.

Mr. Cordray is accompanying President Obama to Ohio where the president will deliver remarks on the economy. When asked about the nomination, Cordray made it clear the agency will not cower to Wall Street. “We’re going to begin working to expand our program to non-banks, which is an area we haven’t been able to touch before now,” he said. Those non-banking entities would include payday lenders and other institutions that offer credit to consumers well beyond the usual interest terms.

It’s a bold move by the president that will no doubt be criticized by both sides. The right will call it an excessive overreach while the left will insist the president did not act soon enough. And right there may be the clearest sign the president is leading after all– not a single entrenched constituency is happy.

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Republicans Filibuster Cordray At Consumer Protection Bureau

Photo from ProgressOhio via flickr.


W. C
W. C3 months ago


William C
William C3 months ago

Thank you for the article.

Kenneth M.
Kenneth M6 years ago

wac-a-mole Paul B.: you have Newt's rightwing political-attack playbook down pat, don't you? -- relentlessly attack and deflect by accusing your political foes of YOUR OWN afflictions....and do it loudly and do it often. Your rant PERFECTLY describes YOUR OWN [R] party...which makes your rant nothing short of vapid hypocrisy. Newt farts, and you hover around to smell it and reproduce its effects elsewhere....you must be proud. What are you, in 3rd grade?

You so-called conservatives haven't had a leader who could synthesize two real facts into a truthful, cogent analysis since Richard Nixon. Go back, and look at the tapes of his political discussions, especially after he left office. And compare that to the uncreative, zombie-like parroting of empty rightwing talking points relentlessly eminating from recent [R] leaders. There is no comparison. The [R] party is a pathetic empty shell, as are you remnant Teatards who support it.

I have to laugh: if 'liberalism' is a cult, then it is the cult that the USA was FOUNDED on, you entertaining moron!

So I thank you, Paul B., for being the next flightless duck. Now your pious feathers are laying peacefully along with the others on the quiet waters....

Dylan Thomas
Dylan Thomas6 years ago


the sad fact is this nasty game played here is what political discourse has sunk to in this country and a sanctimonious, holier than thou post like yours doesn't make the situation any more civil, it only fans the flames.

Dylan Thomas
Dylan Thomas6 years ago

Paul B. said:
I believe many of the foul-mouthed, demeaning Liberals on this site are confusing Knowledge with intelligence. Knowledge is what we learn from the sources we frequent, Liberals and conservatives alike. This knowledge is NOT intelligence but rote regurgitation of what they know...........

paul b. you do realize that everything you state in your post can and is said about the arrogance and hubris of those on the right who post on here, including yourself.
face it paul, liberals have passivly sat back like a bunch of wussies for the past 4 decades while the right smacked them around and like all bully situations, the bullied are now standing up and smacking back and the bullies are now crying about it.
personally i would rather sit here and have a civil inteligent debate without all of the arrogance, hubris and left/right liberal/conservative republican/democrat slurs. stick to facts and not partisan talking points. as long as one side does it, the other side is gonna follow suit. what makes it worse on the right side is the fact that this is a liberal forum. it is a privately owned entity, the constitutional right to freedom of speech isn't garunteed here. we are all here courtsey of the owners of care2 causes and they have the right to boot any of us at anytime. the sad fact is this nasty game played here is what political discourse has sunk to in this country and a sanctimonious, holier than thou post like yours doesn't make the situation any more civil,

Elizabeth K.
Elizabeth K6 years ago

Paul, if republicans are the "intelligent" ones, why do the candidates always "dumb down" when they talk to them.

Why do they always present simple things using simple words, and not talk about the serious issues in adult language?

Why are most college students liberals?

Why is Robert smarter than you are?

So many questions, so little time..

Elizabeth K.
Elizabeth K6 years ago

And one year ago…

"Republicans took control of the House for the first time in four years. They say they’re going to stick to a strict interpretation of the Constitution. I hope you didn’t like voting, women and non-whites."
---Jimmy Kimmel

He had no idea how right he would be.

Robert H.
Robert Hamm6 years ago

Oh For Chrissakes Paul Now liberals are a CULT??????? Give me a frikking break. Liberals have been around since before our country started. This idea that liberals just popped out of the ground is absurd.

By time I get here Paul I have already read both sides in a multitude of places. This IS the only blog I go to, however. I used to go simply to read, in conservative blogs but saw no reason to contribute. I get most of my information all over the web…..even many foreign sites. Neither side of the spectrum has all the answers. Neither side is more sane than the other. I do listen to conservative thought. I DO NOT listen to conservative propaganda, however.

Charlene Rush
Charlene Rush6 years ago

On TV, it was reported that he made 4 recess appointments on that day. I only wish he had made more. The number of recess appointments President Obama has made, doesn't come close to the number, the Bush administration made.

Brian M.
Past Member 6 years ago

The two party system is a sham. Participate in elections? We need to participate in them the way so many people around the world are...by blocking them until every ounce of corruption has been purged. The people in this nation do not have representation and are tantamount to slaves. We need a multiparty system that gives some measure of representation to those who have earned a reasonable percentage of the popular vote.