Consumer watchdog will expand its power

January 5, 2012 Off By administrator

Consumer watchdog will expand its power
News from Daily Oklahoman:

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By DANIEL WAGNER Oklahoman    Leave a comment

Published: January 5, 2012

With its first chief now in place, the new Consumer Financial Protection Bureau will start enforcing ru…………… continues on Daily Oklahoman

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Scott Brown Backs Obama Recess Appointment Of Consumer Finance Watchdog Richard Cordray
News from Huffington Post:

WASHINGTON — Bucking his party’s leadership, Sen. Scott Brown (R-Mass.) Wednesday expressed his support for President Obama’s decision to name Richard Cordray head of the Consumer Financial Protection Bureau in a recess appointment that evaded a Republican blockade of the nomination.

Senate Republicans had vowed to stop Cordray’s appointment until Obama agreed to water down the authority of the new watchdog agency. To stop him from using the constitutional option of a recess appointment while the Senate was adjourned, they’ve been holding “pro forma” sessions where no business is done, but the chamber is technically working.

GOP leaders bitterly accused the president of arrogance and overreach. But Brown, facing a tough election challenge from the architect of the CFPB, Elizabeth Warren, decided that thei…………… continues on Huffington Post

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