Obama's Recess Appointment Woes Cloud CFPB's Future

Law360, New York (January 25, 2013, 8:43 PM EST) -- A federal appeals court's Friday decision to invalidate President Barack Obama's recess appointments to the National Labor Relations Board could imperil another recess appointment — the chief of the Consumer Financial Protection Bureau — and bolster Republican lawmakers' efforts to declaw his controversial agency.

Although the D.C. Circuit's ruling pertains directly to NLRB recess appointments, CFPB Director Richard Cordray's January 2012 recess appointment also has been challenged. If his appointment is deemed unconstitutional, the work the CFPB has undertaken, including a broad rewrite of mortgage rules,...
To view the full article, register now.