Rep. Capito says Cordray's recess appointment a blow against accountability

Rep. Shelley Moore Capito (R-W.Va.), who chairs a House subcommittee that oversees the Consumer Financial Protection Bureau (CFPB), on Wednesday said President Obama's decision to recess-appoint a director for the CFPB is a move against transparency and accountability.

Capito was one of several Republicans who blasted the appointment, joining with others in saying that the GOP has wanted to improve the CFPB before accepting the Obama administration's nominee, Richard Cordray.

"I am extremely disappointed that the President has chosen to appoint the CFPB director in such a backdoor manner, especially considering his stated commitment to accountability; it is both ironic and disappointing," she said. "Both leaders in the Senate and the House, including myself, have been forthright in our concerns that this agency lacks necessary oversight, transparency and accountability."

The House last year approved legislation setting up a five-member board to oversee the CFPB, and allowing for the overturning of CFPB rules in certain cases.

"The Senate has joined the House in voicing these concerns to the President who unfortunately has no desire to make this new bureaucracy more accountable to the American people," she said.