Financial Regulation As Battle Brews Over Financial Watchdog Agency, A Look at What’s It’s Done So Far The validity of the recess appointment last January of Richard Cordray, director of the Consumer Financial Protection Bureau, is now in question. The value of CFPB is not. By Martha C. White @arogDCJan. 28, 2013 Share Read Later Send to Kindle REUTERS/Larry DowningU.S. President Barack Obama speaks next to Richard Cordray (L) and Mary Jo White (R) in the State Dining Room of the White House on January 24, 2013.