Yesterday, the President traveled to Cleveland, Ohio to announce the appointment of Richard Cordray as America’s consumer watchdog. Mr. Corday has one job: look out for the best interest of American consumers. He’ll lead the Consumer Financial Protection Bureau and work tirelessly to protect millions of families across the nation from the abuses of bad actors in the financial industry.
The President nominated Mr. Cordray six months ago, but Republicans in the Senate blocked his confirmation. They wouldn’t even let the Senate proceed with an up or down vote. They didn’t have a problem with Mr. Cordray, they just don’t think we need a consumer watchdog protecting families. The President disagrees. That’s why he took action and appointed Mr. Cordray. Millions of Americans can’t afford to wait for Congress to act. He’s the right man for the job. And as we’ve seen, editorial boards from across the country agree -- let’s take a look:
Philadelphia Daily News: Cordray's consumer bureau appointment a good move
President Obama says his recess appointment yesterday of Richard Cordray to head the Consumer Financial Product Bureau was an "obligation.
He wasn't referring to the urgency for action three-plus years after a combination of hinky financial products brought the economy to its knees. What he said was, "When Congress refuses to act . . . and puts people at risk, I have an obligation as president to do what I can without them," he said. Finally.
New Jersey Star-Ledger: President Obama's recess appointment of Richard Cordray fulfills promise
Republicans have been hellbent on sabotaging financial regulatory reform, but yesterday they got a rude awakening: President Obama’s recess appointment of Richard Cordray to lead the Consumer Financial Protection Bureau.
The Party of No blocked Obama’s first pick, Elizabeth Warren, and it was determined to block Cordray, the highly regarded attorney general of Ohio. Getting the agency up and running on all cylinders is crucial to enshrine into law the lessons from the 2008 housing and mortgage meltdown.
St. Louis Post-Dispatch: With recess appointments, the president calls the GOP's bluff
With long overdue defiance, President Barack Obama on Wednesday named former Ohio Attorney General Richard Cordray to be director of the new Consumer Financial Protection Bureau. Hours later, he appointed Sharon Block, Terence Flynn and Richard Griffin to fill three vacancies on the National Labor Relations Board, which would have had to cease operations without new members to constitute a quorum.
All are recess appointments, which the Constitution authorizes presidents to make when Congress is not in session. They do not require Senate confirmation; the appointees may serve until year's end. The president formally nominated Mr. Cordray in July, but Senate Republicans used the threat of a filibuster to prevent a confirmation vote.
Salt Lake Tribune - Power grabs: Obama is Right to name Cordray
Yes, President Obama’s decision to use a recess appointment to name a boss for the new Consumer Financial Protection Bureau is something that might fairly be described as “a power grab.”
Some Republicans are fuming at the news that former Ohio Attorney General Richard Cordray will be running the agency without Senate confirmation. What they don’t say is that the power here is being grabbed away from obstructionist tools of Wall Street — we’re looking at you, Sen. Orrin Hatch — and placed in the service of the American people.