Created on Tuesday, 12 March 2013 Written by THE ASSOCIATED PRESS
WASHINGTON (AP) — Former Ohio Attorney General Richard Cordray is expected to field questions from a U.S. Senate panel considering his re-nomination to head the Consumer Financial Protection Bureau.
FILE - In this Jan. 24, 2013 file photo, Consumer Financial Protection Bureau head Richard Cordray listens at left as President Barack Obama announces in the State Dining Room of the White House in Washington that he will re-nominate Cordray to lead the bureau, a role that he has held for the last year under a recess appointment. On Tuesday, the Senate Banking Committee will hold hearings on Cordray's nomination (AP Photo/Carolyn Kaster, File)
Whether Cordray will be confirmed is uncertain. Wall Street interests and Republicans in Congress fiercely opposed the agency created to defend consumer rights as part of the 2010 overhaul of the nation's financial regulations.
President Barack Obama resorted to a recess appointment last year to circumvent the Republicans and install Cordray as agency director. The appointment expires at year's end.
Questions were raised about the legitimacy of Cordray's appointment when a federal appeals court ruled in January 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.