If Obama's recess appointment of Cordray to the newly created consumer board is eventually ruled invalid, it could nullify all the regulations the consumer board has issued, many of which affect the mortgage business.
"Perhaps the silver lining to this otherwise dismal report is that Consumer Confidence may be nearing a bottom, " said Lynn Franco, Director of The Conference Board Consumer Research Center.
The Conference Board Consumer Confidence Index, which had declined in June, improved slightly in July.
The Conference Board Consumer Confidence Index, which surged nearly 15 points in November, increased another nine points in December.
And he actually helped set up the Consumer Finance Protection Board.
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The Conference Board consumer-confidence index for November came in much better than expected, at 56.0, from a revised 40.9 in October, and compared with estimates of a reading of 45.0.
The upshot of a 231-page report on reverse mortgages released today by the Consumer Financial Protection Board is that reverse mortgages are complex products and difficult for consumers to understand.
Warren, who championed the creation of the new Consumer Financial Protection Board after the mortgage-led financial meltdown five years ago, is beginning to use her Senate Banking Committee perch to push regulators for tougher actions against errant banks.
On Tuesday, a survey by the Conference Board showed consumer confidence at an eight-month high in December, easily topping expectations.
Consumer confidence (Conference Board) and small business optimism (NFIB) both are down.
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But arguably the greater grab for extralegal power was the president's 2012 "recess" appointments overturned by an appellate court to the National Labor Relations Board and Consumer Financial Protection Bureau.
On the economic front, the Conference Board's consumer-confidence index for January fell more than expected.
The Conference Board's Consumer Confidence Index fell sharply to 58.6 in the month, from 66.7 in February.
In fact, today the Conference Board reported that consumer confidence fell to levels not seen since April 2009.
On Tuesday, the New York-based Conference Board announced its Consumer Confidence Index rose to 51.9 in July, from an upwardly revised 51.0 in June.
And a similar comparison of Wal-Mart's comp sales to the Conference Board's consumer confidence reading showed almost no correlation between those two measurements either.
On Thursday, the Conference Board released its consumer confidence index for December, noting a 6.4 point plunge to 65.1, its lowest level since August.
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Always keep in mind that even when the Conference Board reading of Consumer Confidence is on the rise, the overall figure may indicate a poor retail environment.
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Buy broadcasting, a sort of consumer staple, across the board: radio (Chancellor Media, 53, AMFM), cable (Cablevision, 70, CVC) and the prime entertainment conglomerate, Time Warner (73, TWX).
The Conference Board's Consumer Confidence Index bottomed out at 84.9 in November 2001, but has reflected a sharp rise in consumer optimism--standing at 109.8 at the end of May.
Meanwhile, the Conference Board's consumer-confidence index for May jumped to a five-year high of 76.2, much better than expectations for a reading of 72 and an upwardly revised April reading of 69.
The unexpected drop in the Conference Board's consumer confidence index to 53.1 in September, from 54.5 in August, provoked a "dollar-safety" play, but Chau believes the market is waiting for Friday's labor report to set the tone for the dollar's near-term future.
Right now, important new products in chips, communications, computing and consumer goods are on the drawing board.
Still, the day was remarkable because investors brushed off a big drop in consumer confidence reported by the Conference Board.
Reverend Jesse Jackson suggested Blankfein consider putting more labor, consumer and diverse individuals on the Board of Directors.
"The story here is that CEO confidence is holding steady, " says Lynn Franco, director of the Consumer Research Center at the Conference Board.
Consumers' sentiment soured more than expected in June, darkening for the fourth month in a row, according to the Conference Board's preliminary consumer confidence index.
The rally came despite the collapse in the Conference Board's monthly consumer confidence index, which fueled concerns about the likely depth of the expected recession in the U.S. in the wake of the global financial crisis.
February new homes sales are expected to decline 5% on the month to a seasonally adjusted annualized rate of 415, 000 and the Conference Board's March consumer confidence index is seen slipping to 67.1 from February's 69.6.
The latest consumer confidence reading from the Conference Board, a private economic research group, shows that 42% of consumers see jobs as "hard to get, " while less than 13% believe their incomes will increase this year.
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