• Service: Tax, U.S. Indirect Tax, Advisory, Risk & Compliance, Financial Risk Management
  • Industry: Banking & Capital Markets
  • Type: Publication series
  • Date: 1/20/2012

Regulatory Practice Letter #12-05 

Cordray Appointed CFPB Director; Nonbank Supervision Begins
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Director of the Bureau of Consumer Financial Protection (“CFPB” or “Bureau”).  The appointment was made as a recess appointment under the President’s executive authority but has been questioned by some lawmakers and members of the public who say the Congress had not met the legal requirements to be considered in recess.