President Barack Obama renominates former Ohio attorney general to head the Consumer Financial Protection Bureau.
The President had given the job to Cordray on a temporary basis early last year, putting him at the head of the then-fledgling agency by making a recess appointment. That got him get around Senate Republicans' objections holding up the 2011 nominee.
The problem, senators said, was not Cordray specifically but, rather, the broad powers his agency would have. His agency, and the duties of its director, were created by Democratic lawmakers who wrote the Dodd-Frank banking-and-consumer-protection laws.
But Cordray's recess appointment expires at the end of 2013. Ohio Democrats speculated late last year that perhaps Cordray would leave a little earlier to prepare for a 2014 gubernatorial run. Other Ohio Democrats considering a challenge to incumbent Republican Gov. John Kasich include Cuyahoga County Executive Ed FitzGerald, current U.S. Rep. Tim Ryan and former Rep. Betty Sutton.
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