Washington D.C. – House Majority Whip Kevin McCarthy (CA-22) released the following statement regarding President Obama’s recess appointment of Richard Cordray to the Consumer Financial Protection Bureau:
“President Obama’s recess appointment of Richard Cordray to head the new Consumer Financial Protection Bureau is a continuation of the White House’s abandonment of the playing field of constructive ideas. The President’s refusal to work with Congress, and ongoing attempt to sow division, is embodied in this reversal of his stance on recess appointments, which he has previously said have ‘less credibility’ than a nomination confirmed through the U.S. Senate.
“This is a perilous start for the new CFPB, whose jurisdiction over all consumer financial products and services has the potential to restrict access to credit, thereby limiting a business’s ability to create jobs. House Republicans stand ready and willing to work with President Obama and Democrats to jump-start job creation and turn our economy around. We invite the President to abandon the campaign trail and join us in creating policies that will get Americans back to work.”