This is part of the "new Obama." Voters need to know that this guy "is" going to hang around after the election this time. From Greg Sargent at the Washington Post:
As I expected, Obama is going to go for it: In his speech today in Ohio, he will announce a recess appointment for Richard Cordray to head the Consumer Financial Protection Bureau.
More broadly, the politics of the move are very interesting. Obama’s decision to do this in such a high profile way may swing the spotlight back towards Obama’s ongoing push for the middle class, which the White House hopes to contrast with ongoing GOP primary infighting. The outcry from Republicans will draw more attention to their role as defenders of financial institutions against consumers. In keeping with the new “we can’t wait” for Congress strategy, Obama seems determined to demonstrate a willingness to take whatever steps are necessary to circumvent it and to exercise power unilaterally on behalf of the economy and the middle class.
In a sense, the move represents a kind of final break with the illusion — to the degree that it still exists at all — that any kind of bipartisan compromise with Republicans remains possible. All bets are off.
