FILE - In this July 18, 2011 file photo, President Barack Obama shakes hands with former Ohio Attorney General Richard Cordray after announcing his nomination to serve as the first director of the Consumer Financial Protection Bureau (CFPB), in the Rose Garden of the White House in Washington. Senior administration officials tell The Associated Press that President Barack Obama will use a recess appointment to name Richard Cordray on Wednesday as the nation?s chief consumer watchdog despite steep Republican opposition. (AP Photo/Manuel Balce Ceneta, File)