CFPB's Cordray Ratifies Rules Written As Recess Appointee

Law360, Los Angeles (August 30, 2013, 7:33 PM EDT) -- Robert Cordray ratified the rules he wrote when his appointment as chief of the Consumer Financial Protection Bureau was being contested in Congress, according to Friday’s Federal Register.

Cordray was officially appointed by President Barack Obama on July 17, following a deal in the Senate to end contention over whether his initial appointment, during a congressional recess in January, was legitimate.

Cordray ratified the rules written while his leadership was in question to avoid arguments over their legitimacy, he said in Friday’s notice.

"I believe that...
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