Last month marked the one-year anniversary of the designated transfer date of authority to the Consumer Financial Protection Bureau (CFPB) that took place on Jan. 21, 2012, when President Barack Obama appointed Richard Cordray as director of the CFPB in a controversial recess appointment. The CFPB was required by the Dodd-Frank Act to release several final rules within one year from this date. Three final rules were released on January 10, 2013, followed by the other four promised final rules on January 22; one day later than the one-year anniversary due to a national holiday.
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