CFPB Moves Quickly to Launch Nonbank Supervision ProgramDuncan B. Douglass,Stephen Krebs,Christina LaVera,David Park,Cliff Stanford,Joseph E. Yesutis,M. Christina Young, January 17, 2012
Despite Republican efforts to prevent such a move, on January 4, 2012, President Obama used a recess appointment to install Richard Cordray as the director of the Consumer Financial Protection Bureau (“Bureau”). The President originally nominated Cordray on July 18, 2011; however,...