BREAKING: Obama Will Recess Appoint Consumer Financial Protection Bureau Head
White House Communications Director Dan Pfeiffer confirmed on Twitter today that President Obama will announce the recess appointment of Richard Cordray to head the Consumer Financial Protection Bureau in speech in Ohio today. ThinkProgress first reported that Obama was poised to make the move yesterday, citing sources. ThinkProgress’ Ian Millhiser explained yesterday why Obama has the legal authority to do so in the face of Republican obstruction. The Bureau was created by the Dodd-Frank financial reform law and Cordray previously served as attorney general of Ohio.
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