WASHINGTON – The Consumer Financial Protection Bureau was dealt a devastatingif indirectblow last week, when the U.S. Court of Appeals for the D.C. Circuit ruled that three recess appointments to the National Labor Relations Board were invalid.
Although bureau director Richard Cordray was not named in the suit, his recess appointment was made on the same day and under the same assertion of executive power, and the regulatory bar assumes that it too will fail to survive judicial review.
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