Although the bureau formally opened for business last summer, it was this past January when former Ohio Attorney General Richard Cordray landed with a bang in the director's office. President Obama installed Cordray through a controversial recess appointment. But while critics questioned Cordray's hiring to no end, the bureau attempted to stay focused on formulating policy. (Image: Bloomberg News)
The CFPB continued steady hiring of senior staff to launch new operations. Hubert "Skip" Humphrey 3rd, the former Minnesota attorney general and son of former Vice President Hubert Humphrey, was announced in October as head of the bureau's Office of Older Americans. Last month, Humphrey's office issued a report warning of the risks of reverse mortgages for elderly borrowers.