Watch the Republican primaries, and you can feel: the American political system is working. The GOP is discarding the unqualified and irresponsible candidates and rapidly converging on the person in the race who could actually do the job of president.
With President Obama's recess appointment of a new chief to run the consumer bureau, the agency can flex new powers regulating financial products from non-banks -- including student loan providers, debt collectors, payday lenders, and mortgage originators and servicers.
In a move that has angered Republicans, President Obama on Wednesday announced he's making a recess appointment of Richard Cordray to be the first director of the Consumer Financial Protection Bureau, sidestepping the Senate confirmation process.
Republican Sen. Lindsey Graham defended his vote to block confirmation of a director to run the Consumer Financial Protection Bureau by comparing it to something out of the reign of Soviet dictator Joseph Stalin.
While President Barack Obama battles with Republicans and Democrats over raising the debt ceiling, Americans should be preparing themselves to take on the shady special interests and the members of Congress who carry their water in their effort to scuttle the Consumer Financial Protection Bureau.
Federal regulators on Thursday updated senators on the progress of financial system reforms that went into law a year ago, and they defended against criticisms about the pace at which reforms are being implemented.
With a week to go before the new consumer bureau takes off, the White House has yet to appoint its director -- an omission bound to attract criticism when House Republicans grill Elizabeth Warren at a Thursday hearing.
A Senate Republican vow to block any nominee to lead the new Consumer Financial Protection Bureau gives President Obama no choice but to appoint a head of that agency during congressional recess, a top House Democrat said Wednesday.
House Republicans got their first chance Wednesday to grill White House adviser Elizabeth Warren about the new Consumer Financial Protection Bureau (CFPB), taking a first step in a campaign aimed at gutting, curbing or controlling the new agency.