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Washington Roundup

Obama uses executive authority to install consumer-protection chief
President Barack Obama named Richard Cordray director of the Consumer Financial Protection Bureau. The recess appointment bypassed Republican senators who said they would block any nominee to lead the new agency. The Washington Post(1/4), Bloomberg(1/5), MarketWatch(1/4), Government Executive(1/4), The Wall Street Journal(1/4)

Fed offers ideas for resolving housing-market issues
The Federal Reserve sent ideas to Congress on about how to help the troubled housing market, warning that home prices will continue to fall if nothing is done. Meanwhile, minutes from a Fed meeting show that officials are disappointed in efforts to strengthen the housing market. Fed officials "generally saw few signs of recovery in the housing market, with house prices continuing to decline in most areas and the overhang of foreclosed and distressed properties still substantial," according to the minutes. Financial Times(tiered subscription model)(1/4), American Banker (free registration)(1/4), CNBC/NetNet blog(1/4)

SEC charges adviser with attempts to sell fictitious securities
The Securities and Exchange Commission charged Anthony Fields, an investment adviser in Illinois, with trying to sell more than $500 billion in fictitious securities through social media sites. "RIAs should ensure that they are in compliance with all of the regulatory requirements and be aware of the risks associated with using various forms of social media," the SEC said in an alert to advisers. SIFMA will host a Social Media Seminar on Feb. 3 in New York. Register today. The Wall Street Journal(1/4)

• Other News

Lawmakers introduce tax-credit bonds legislation
The Bond Buyer (special access for readers of SIFMA SmartBrief) (1/5)