The Senate today is scheduled to vote on the nomination of former Ohio Attorney General Richard Cordray to head the Consumer Financial Protection Bureau, the new agency created by the Dodd-Frank financial reform law. It’s unlikely, at this point, that Democrats have enough votes to overcome a Republican filibuster. Forty-five Republican senators have pledged to block any nominee until structural changes are made to the Bureau that would undermine its effectiveness.
Wall Street banks have been fighting the new agency tooth and nail, and as it turns out, the 45 Republicans who have vowed to block the agency’s director have been lavished with donations from the financial services industry
keyboard shortcuts: V vote up article J next comment K previous comment