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Chamber of Commerce not planning suit to block Cordray

Tom DonohueTom Donohue, the head of the U.S. Chamber of Commerce, said that the group is not currently planning sue to block President Obama's recess appointment of Richard Cordray as director of the new consumer finance protection agency.
 
Donohue said on Thursday that the group would not "sue today" to block the appointment of Cordray, but reserved the possibility that its position could change down the line, the Wall Street Journal reports.
 
"To say we are disappointed in the move by the president today would be a gross understatement," Donohue said in a statement last week, according to Fox News. "This controversial appointment is unprecedented, constitutionally questionable, and puts the authority of the director and the validity of the bureau’s work in legal jeopardy. What's more, it ignores repeated calls to reform the bureau by restoring basic checks and balances."
 
Obama circumvented the Senate's rejection of the former attorney general of Ohio as the first director of the Consumer Financial Protection Bureau by using a recess appointment. After the move, there was immediate speculation that the chamber or other business groups would sue to block the appointment.
 
Donohue said that while he wasn't opposed to Cordray's appointment, he wanted to see an overhaul of the CFPB to make sure that it is more accountable to Congress and that it is headed up by more than one person.
 

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