Via Daily Caller:
President Barack Obama today escalated his claimed power to appoint top officials by announcing that his financial-sector appointee also has authority that is legally reserved only for an official who has been confirmed by the Senate.
The 2010 law that established the Consumer Financial Protection Bureau includes a section that says many of the bureau’s new powers are to be held by the secretary of the Treasury “until the Director of the Bureau is confirmed by the Senate.”
Obam’s Jan. 3. claim to have appointed Cordray appears to violate the Constitution and is a grab for increased presidential power, say many constitutional lawyers.
But his new Jan. 6 claim about Cordray’s powers goes even further by contradicting the plain language of the 2010 law that created the bureau.
Section 1066 of the law says many of the bureau’s new powers are activated once the Senate confirms a director. Those extra powers include the authority to write regulations for non-bank firms, such as payday lenders.