WASHINGTON — Senate Banking Committee Chairman Tim Johnson conducted a hearing Tuesday on the appointments of Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB), and Mary Jo White as a member of the Securities and Exchange Commission.
The CFPB was created in 2010 against the wishes of the Republicans in Congress, reports the Associated Press. Obama installed Cordray as agency director via a recess appointment last year to circumvent the Republicans. Questions have since been raised about the legitimacy of Cordray's appointment after a federal court ruled that Obama violated the U.S. Constitution by using a recess appointment in the same way to place two people on the National Labor Relations Board.











