Reginald Brown, Russell Bruemmer and Eric MogilnickiJanuary 5, 2012, 3:16 PM EST
Law360, New York (January 5, 2012, 3:16 PM EST) -- On Jan. 4, the White House announced that President Obama made a recess appointment of Richard Cordray as the first director of the Consumer Financial Protection Bureau. This appointment marked the latest move in an extended battle between the White House and Senate Republicans over the bureau.
In May 2011, 44 Republican senators wrote the president, vowing to oppose confirmation of a director without substantial changes to the composition, structure and funding of the bureau. In December 2011, 45 senators blocked a vote on the nomination...