Cordray moves forward despite appointment challenges
Newly installed Consumer Financial Protection Bureau director Richard Cordray laid out his agenda Thursday, vowing to press ahead despite political objections and legal questions about his status as a recess appointee.
“It’s a valid appointment. I’m now the director of the bureau. . . . We now have our full authority to move forward,” Cordray said in his first public speech as the agency’s director, a day after President Obama used a recess appointment to bypass Republicans who had blocked Cordray’s confirmation in the Senate.
“The most important thing is to keep our nose to the grindstone and keep doing our work,” Cordray said in remarks at the Brookings Institution. “We will prove our own case, both to people who represent the public and to the public at large.”
As for the legal questions about his appointment — which Obama put through in less than 10 days of congressional recess, breaking with precedent — Cordray said he would “leave the details to others.”
full: http://www.washingtonpost.com/business/economy/cordray-moves-forward-despite-appointment-challenges/2012/01/05/gIQAsBEgdP_story.html
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