Richard Cordray, incoming head of the Consumer Financial Protection Bureau, listens as US President Barack Obama speaks about the economy at Shaker Heights High School in Shaker Heights, Ohio, a suburb of Cleveland, on January 4, 2012. Obama announced plans to appoint Cordray as acting head of CFPB in a recess appointment, bypassing Congress and setting up a bitter election-year legal showdown with Republicans. AFP PHOTO / Saul LOEB (Photo credit should read SAUL LOEB/AFP/Getty Images)