Font size: A A A
A great op-ed from Rep. Tom Cole (R-OK) on the many problems of the recent recess appoointment to the CFPB and the agency’s function itself.
First, his remarks on the recess apointment itself:
“On Jan. 4, the president announced his decision to issue a so-called “recess appointment” to install Richard Cordray to lead the controversial new Consumer Financial Protection Bureau (CFPB). President Obama used the same procedure to appoint three new members to oversee the National Labor Relations Board (NLRB).
There is one major problem with this round of recess appointments: Congress is not actually in recess.
The recess appointment authority granted to presidents under the Constitution and established by precedent is intended to allow the chief executive to fill important government vacancies while Congress is out of session for extended periods of time. Until the beginning of the 20th century, Congress was only in session for less than half a year, on average, making the ability to issue recess appointments vital.
Presidents have taken advantage of the process in recent years to circumvent the legislative process and appoint individuals who face too much opposition to ever be approved by the standard nominating procedure in the Senate. However, President Obama’s actions are radical even by this standard.”
He then goes on to talk about the CFPB:
“Likewise, the Consumer Financial Protection Bureau poses threats to our still struggling economy. Conservatives have opposed this new bureaucracy since its creation by the flawed Dodd-Frank financial regulation bill.
One of the biggest concerns is that the sweeping, insufficiently defined authority of the agency rests solely with its director. As Senate Banking Committee member Richard Shelby, R-Ala., explained, new CFPB director Cordray “will impact whether Americans can buy a home, a car, or even basic household goods” because he has the authority to “single-handedly determine the financial products consumers can buy, as well as which consumers have access to credit and which do not.”
Senate Republicans are right to oppose granting this much power to an unaccountable director and agency.”