TPMDC Financial Reform: December 2011
Richard Cordray
GOP Filibusters Top Consumer Protection Nominee
This post was updated at 11:55 a.m.
As they promised they would, the overwhelming majority of Republicans on Wednesday filibustered Richard Cordray, the uncontroversial former Ohio Attorney General whom President Obama tapped to be the director of the new Consumer Financial Protection Bureau -- an agency tasked with mitigating fraudulent and dangerous financial products.
The final vote was 53-45, with one Senator, Olympia Snowe (R-ME) voting present and one, John Kerry (D-MA) not on hand to vote. GOP Sen. Scott Brown (R-MA) -- running for re-election against the CFPB's godmother Elizabeth Warren -- joined the Democrats in supporting Cordray.
PERMALINK | COMMENTS | RECOMMEND RECOMMEND (0)Topics: Barack Obama, Consumer Financial Protection Bureau, Financial Reform, John Kerry, Olympia Snowe, Richard Cordray, Scott Brown, White House
Financial Reform
Sr. White House Official: GOP Consumer Bureau Demands 'Unacceptable'
President Barack Obama
The White House making a big public push to pressure moderate Republicans to support Richard Cordray, President Obama's nominee to run the new Consumer Financial Protection Bureau, when the Senate votes on his confirmation Thursday. Nearly all Senate Republicans have vowed to filibuster any potential director until Democrats agree to dramatically scale back the bureau's regulatory power.
In a background briefing with reporters Monday, a senior White House official said the GOP's demands won't fly.
PERMALINK | COMMENTS | RECOMMEND RECOMMEND (0)Topics: Barack Obama, Barney Frank, Chris Dodd, Consumer Financial Protection Bureau, Elizabeth Warren, Filibuster, Financial Reform, Wall Street
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