Cordray Is In at Regulatory Giant, and Rep. McHenry Wants Him to Appear Before House Committee

Thanks to a recess appointment by President Obama, Richard Cordray is in as the new czar of yet another government overreach by the current administration – the incredibly powerful Consumer Financial Protection Bureau. North Carolina Congressman Patrick McHenry isn’t giving up on revealing what he calls the “unparalleled powers” of the group. He’s written Cordray a letter asking him to appear before the House Oversight and Government Reform Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs, which McHenry chairs. Good. Let’s peel back the onion on exactly what this new “protection bureau” has the power to do.