Consumer Financial Protection Bureau Director Richard Cordray has accepted an invitation to testify before a U.S. House oversight panel later this month, where he is likely to face tough questions about the president’s decision last week to bypass the Senate and install him as director. Rep. Patrick McHenry (R., N.C.), along with other congressional Republicans, were infuriated by the president’s Jan. 4 move. Mr. McHenry said the “unprecedented appointment of Mr. Cordray runs counter to the constitutional requirements for a recess appointment and Obama’s own campaign pledge to run ‘the most transparent administration in history.'”…