January 4, 2012
In this July 18, 2011 file photo, President Barack Obama and presidential nominee to serve as the first director of the Consumer Financial Protection Bureau (CFPB), former Ohio Attorney General Richard Cordray are seen in the Rose Garden of the White House in Washington. Senate Republicans have blocked President Barack Obama's choice to head the consumer protection agency that was created after the 2008 financial meltdown. (AP Photo/Manuel Balce Ceneta, File)
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In a defiant display of executive power, President Barack Obama on Wednesday will buck GOP opposition and name Richard Cordray as the nation's chief consumer watchdog even though the Senate contends the move is inappropriate, senior administration officials told The Associated Press.