Richard Cordray

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President Obama (left) speaks as Richard Cordray, the newly confirmed director of the Consumer Financial Protection Bureau, looks on in the State Dining Room of the White House in Washington on Wednesday, July 17, 2013. The Senate voted on Tuesday to end a two-year Republican blockade that was preventing Mr. Cordray from winning confirmation. (AP Photo/Susan Walsh)

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** FILE ** In this Jan. 24, 2013, file photo, Consumer Financial Protection Bureau head Richard Cordray listens at left as President Barack Obama announces in the State Dining Room of the White House in Washington that he will renominate Cordray to lead the bureau, a role that he has held for the last year under a recess appointment. (AP Photo/Carolyn Kaster, File)

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Richard Cordray and Mary Jo White are sworn in March 12, 2013, before testifying in front of the U.S. Senate Banking, Housing and Urban Affairs Committee on Capitol Hill for their confirmation hearings. Cordray and White are President Obama's picks to head the Consumer Financial Protection Bureau and the Securities and Exchange Commission, respectively. (Andrew Harnik/The Washington Times)

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Richard Cordray, President Obama's pick to head the Consumer Financial Protection Bureau, testifies March 12, 2013, at his confirmation hearing in front of the U.S. Senate Banking, Housing and Urban Affairs Committee on Capitol Hill. (Andrew Harnik/The Washington Times)

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**FILE** President Obama pauses in the State Dining Room of the White House on Jan. 24, 2013, as he announces that he will nominate Mary Joe White to lead the Security and Exchange Commission and re-nominate Richard Cordray to lead the Consumer Financial Protection Bureau, a role that he has held for the last year under a recess appointment. (Associated Press)

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**FILE** Richard Cordray stands left as President Obama announces in the State Dining Room of the White House on Jan. 24, 2013, that he will re-nominate Cordray to lead the Consumer Financial Protection Bureau, a role that he has held for the last year under a recess appointment, and nominate Mary Joe White to lead the Security and Exchange Commission (SEC). (Associated Press