At the CFPB, Cordray Creates One Last Cloud of Controversy

At the CFPB, Cordray Creates One Last Cloud of Controversy
AP Photo/Steve Helber, File

History doesn't repeat, but it often rhymes. And so the circumstances of Richard Cordray's departure from the Consumer Financial Protection Bureau seem fitting.

Nearly six years ago, Cordray arrived at the CFPB as one of purported “recess” appointments that President Obama ventured despite the fact that the Senate was not actually in recess, a maneuver that the Supreme Court promptly—and unanimously—declared unconstitutional. Cordray's nomination eventually received the Senate's advice and consent, and he issued a perfunctory statement purporting to ratifying all actions that the CFPB had taken during his unconstitutional year-plus initial tenure.

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