CONFIRMATION: President Barack Obama on Wednesday hailed Richard Cordray's long-awaited confirmation as head of the Consumer Financial Protection Bureau.
LONG BATTLE: Cordray's confirmation and his swearing in by Vice President Joe Biden culminate a drawn out fight between Obama on the one hand and the financial industry and GOP lawmakers on the other over the authority of the agency.
2010 LAW: Creation of the bureau was one of the key features of a 2010 financial regulation law. Republicans have sought to alter the agency's structure and the means by which it is financed to give Congress greater control.
- Politics & Government
- Barack Obama
- Richard Cordray