Almost six months after nominating Richard Cordray, Pres. Barack Obama plans to bypass a Senate vote and use a recess appointment to install the former Ohio Attorney General as head of the Consumer Financial Protection Bureau.

The move is meant to sidestep the regulatory wrangling that’s been going on for months. In December, Senate Republicans blocked the Cordray appointment. Their contention: The power of the CFPB should not rest in the hands of a single director.

Senate…

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Riddle of the day: When are layoffs a sign of economic recovery?



When they come in the collection department.



So says Wells Fargo. The bank is cutting 193 auto loan collection positions in Pennsylvania; it made a similar move in Kansas City in February. The reason: More consumers are current on their loan payments.



"We are seeing an improved credit environment, more customers are making their payments on time, customers are paying off their debts, and there is… Continue