Richard Cordray chose not to offer an opinion on President Obama’s controversial ‘recess’ appointment of him to lead the Consumer Financial Protection Board (CFPB), noting as well that independent federal agencies such as the CFPB have no obvious constitutional mandate.
“We do not [take orders from the White House],” Cordray told Rep. Frank Guinta, R-N.H. during a congressional hearing today on the CFPB powers. “We are an independent federal agency,” Corday said, adding that he knows “constitutional scholars scratch their heads to figure out how they fit into the three branches of government.”
“I understand that there is controversy that people have raised about [my recess appointment],” Cordray also told Guinta. “All I can do is carry out the responsibilities that the law of the land has put on my back.”
