The White House says it doesn't fear potential lawsuits challenging President Obama's controversial appointments while the Senate is on break, as Republican lawmakers and presidential hopefuls blasted the move as unconstitutional.
Richard Cordray started his new job on Thursday as director of the Consumer Financial Protection Bureau (CFPB). Though he may wear that fancy new title, he lacks the statutory power and constitutional authority of the office. On Wednesday, after the Senate adjourned for one day, President Obama unilaterally installed Mr. Cordray to the CFPB and added three members to the National Labor Relations Board (NLRB), claiming these were "recess appointments" even though the Senate was in pro-forma session, not recess.
President Obama used his recess appointment powers Wednesday to name a head for the controversial Consumer Financial Protection Bureau and three new members to the National Labor Relations Board — moves Republican lawmakers said amounted to an unconstitutional power grab.
With its first chief now in place, the new Consumer Financial Protection Bureau will start enforcing rules aimed at reining in abusive mortgage servicers, student lenders and payday-loan companies.
In a defiant display of executive power, President Obama on Wednesday will buck GOP opposition and name Richard Cordray as the nation's chief consumer watchdog, even though the Senate contends the move is inappropriate, senior administration officials told the Associated Press.
House Republicans have a not-so-secret weapon that could bring the National Labor Relations Board to a halt and block Democrats' Wall Street watchdog agency from getting started — and all it requires is just sitting around.
President Obama isn't backing down after Senate Republicans on Thursday blocked his nominee from becoming the first director of the Consumer Financial Protection Bureau.
A simpler credit card agreement is getting a tryout.
Senate Republicans are poised to block yet another one of President Obama's nominees as they threaten to filibuster his choice for the first director of the new Consumer Financial Protection Bureau, in what's turning into a fight over the agency's accountability and oversight.