Obama renominates Ohioan as consumer watchdog

President Barack Obama wants former Ohio Attorney General Richard Cordray to stay on as head of the Consumer Financial Protection Bureau.
Associated Press
Jan 27, 2013

 

Obama on Thursday named Cordray to continue in the role he's held since the president used a recess appointment about a year ago to bypass congressional opposition and install him. That appointment expires at the end of this year.

Senate Republicans had opposed Cordray, as well as the concept of the consumer bureau, saying it had too much power with too little input from Congress. The bureau was created as part of the 2010 overhaul of the nation's financial regulations, to defend consumer rights with banks, mortgage companies, the credit-card industry, payday lenders and others.

Obama noted that Cordray needs Senate approval to keep his job.

"Financial institutions have plenty of lobbyists looking out for their interests. The American people need Richard to keep standing up for them," Obama said Thursday. "And there's absolutely no excuse for the Senate to wait any longer to confirm him."

Cordray thanked the president for his confidence.

"We understand that our mission is to stand on the side of consumers — our mothers and fathers, sisters and brothers, sons and daughters — and see that they're treated fairly," he said.

The standoff with Senate Republicans that led to Cordray's entry onto the national stage was atypical for the intelligent, soft-spoken repeat "Jeopardy!" champion.

Cordray earned a law degree from the University of Chicago and a master's in economics from the University of Oxford. He interned for then-U.S. Sen. John Glenn, the astronaut, native Ohioan and Democrat and clerked for U.S. Supreme Court Associate Justice Anthony Kennedy, a Reagan appointee. That built the beginnings of a resume that would make him acceptable to either party.

 

Comments

wiredmama222

Could you PLEASE send him back to Ohio and take Mike DeWine with you instead. I am sure the Republican would ok good old Mike.

Some of us would rather have Corday HERE than DeWinnnney. PLEASE???????

Julie R.

How many people in Cuyahoga County tried to tell Cordray about the corruption going on in Cuyahoga County and were ignored? Same amount that tried to tell that shady Cuyahoga County prosecutor Bill Mason.

Cordray's response was --- corruption was the fault of THE PEOPLE for voting in the same corrupt public officials term after term yet he forgot to mention that the majority of those corrupt public officials never have any opponents.

Cordray is worthless.

reporter54

All politicians are worthless.

Elemenopy

Here's the rest of the info on Obama and his violation of our Constitution:

President Barack Obama just suffered a humiliating defeat in federal court. A top federal appeals court has removed three presidential appointees from power, and invalidated all actions they’ve taken over the past twelve months.

One year ago, Obama filled three seats on the National Labor Relations Board (NLRB)--an essential power center for Obama’s labor-union allies—with recess appointments, claiming that the U.S. Senate was in recess even though the Senate was still in session.

No president in history had ever done such a thing, and Republicans and conservatives immediately denounced it as an unconstitutional power grab. The matter went to court, where Breitbart News covered the judges’ questions and reactions at oral argument.

Circuit held today that Obama’s three recess appointments are in fact unconstitutional. As such, the three seats on NLRB were never legally filled. Thus NLRB only had two members, while the law requires three members on the five-member Board in order to have a quorum to conduct business or issue orders.

The D.C. Circuit therefore concluded that all NLRB orders issued since these recess appointments were made are entirely void, and NLRB has no power to act at all unless and until the Senate votes to confirm Obama’s nominees.

The head of the controversial new Consumer Financial Protection Bureau (CFPB) created by Dodd-Frank, Richard Cordray, was also installed as one of these non-recess appointments. While the D.C. Circuit did not address that appointment, it is now clear that Cordray’s appointment was also unconstitutional, and so he too will be removed from power and all his actions to date nullified. Former White House Counsel C. Boyden Gray—a very well-respected D.C. lawyer—currently has a lawsuit against CFPB, where this decision will secure his victory on part of his case.

This recess-appointment issue will now likely go to the Supreme Court, where it is likely to suffer the same fate.

Breitbart News legal columnist Ken Klukowski is a fellow with the American Civil Rights Union and on faculty at Liberty University School of Law.

Good job Mr. President...

Pterocarya frax...

Here is the real rest of this story. Justice David Sentelle who ran this appeals court is the definition of right wing activist judge. He overturned the convictions of Oliver North and John Poindexter, who were convicted in the Iran Contra scandal. He sided with the Bush administration on the indefinite detention of political prisoners with no trial. He appointed Ken Starr to investigate Clinton. He is a crony of Jesse Helms and a member of the Federalist Society, which has a mission of limiting the power of the president.

Oh, and by the way, he ignored 150 years of congressional precedent. In other words, he has an agenda. This ruling will be overturned.

Centauri

Cordray, bad garbage, another empty suit. He refused to go after the corruption in Cleveland, Ohio.

http://www.fox19.com/story/11195...

Where are the Ohio state charges? Cordray looked the other way as do all worthless and empty suits.