Obama's Recess Appointment Appeal Keeps CFPB In Limbo

Law360, New York (March 13, 2013, 8:45 PM EDT) -- The U.S. Senate is unlikely to confirm Richard Cordray as the Consumer Financial Protection Bureau’s director while the White House petitions the U.S. Supreme Court to uphold the president’s recess appointments, prolonging the current uncertainty over the agency’s authority, possibly for months, experts say.

Cordray's nomination to lead the CFPB had already been blocked once in a battle over the new agency's leadership structure, and his renomination by President Barack Obama in January was expected to suffer a similar fate unless Republicans and Democrats were able...
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