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Richard cordray 2012 01 04

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Richard Cordray will lead new Consumer Financial Protection Bureau.
Republican party, Senate react to Obama's recess appointment.
The Justice Dept. okayed the appointment of Richard Cordray.
The nation's consumer watchdog wants to regulate credit bureaus, too.
The consumer watchdog will look into marketing and fee disclosure.
Richard cordray 2012 01 04

President Barack Obama shakes hands with Richard Cordray (R) before speaking about the economy at Shaker Heights High School in Shaker Heights, Ohio, on Jan. 4, 2012.

Saul Loeb