Last week, President Obama bypassed congress and appointed Richard Cordray as the chief of the Consumer Financial Protection Bureau. Senate Republicans blocked a confirmation vote on Cordray last month. The recess appointment raised the ire of the GOP who say it was unconstitutional. Cordray has promised a strong agenda, warning financial institutes there would be “real consequences” if they break the law. The CFPB focuses on abusive, unfair or deceptive practices in the financial sector, including education loans, prepaid credit cards and mortgage services. Diane and her guests look at the CFPB, why opponents may challenge Cordray’s appointment and what this means for consumers.