President Barack Obama is expected to name Richard Cordray today as director of the Consumer Financial Protection Bureau (CFPB) despite attempts to block the appointment by Republicans.
"Today in Ohio, President Obama will announce the recess appointment of consumer watchdog Richard Cordray," White House communications director Dan Pfeiffer relayed via Twitter, reports Reuters.
Yesterday, Progress Illinois posted an op-ed from Celeste Meiffren of Illinois PIRG on the necessity for Obama to make a recess appointment of Cordray to the consumer financial protections watchdog agency. CFPB was created via the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act meant to protect consumers in financial service transactions and push back against dubious credit card and mortgage company practices. Republicans argue that the agency is overregulatory, blocking Cordray's appointment last month.
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He also appointed THREE members to the National Labor Relations Board as well.
The appointees include Sharon Block, a deputy assistant Labor secretary who once worked for former Sen. Edward Kennedy (D-Ma.); Richard Griffin, a board member of the AFL-CIO; and Terence Flynn, a counsel to the Republican member of the board.
Unfortunately he didn't reappoint Becker, who was most aggressive in supporting employee rights.
Bob Kastigar
IBEW Local 1220, Chicago
There are a lot of people who are suggesting that the Consumer Financial Protection Bureau is the “Big Brother” that nobody really wants. The government has used payday cash advances as an excuse to start this agency, those people say. Sadly, payday loans are actually a fantastic source for individuals when they have an emergency. Go to Payday Loan to find out more. Congrats to Cordray! I hope he will be responsible enough to handle the CFPB in his term.
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