Partisan Battle Continues to Dog Richard Cordray as Head of CFPB

NationalMortgageNews reports the battle over President Obama’s nomination of Richard Cordray to head the Consumer Financial Protection Bureau (CFPB) has stymied three uncontroversial confirmations in related areas. Senate Minority Leader Mitch McConnell (R-Kent.) has put a hold on Martin Gruenberg’s nomination to head the Federal Deposit Insurance Corp. (FDIC), Thomas Curry as comptroller of the currency, and Thomas Hoenig as vice-chairman of the FDIC until President Obama agrees to not make a recess appointment of Cordray. Despite an agreement by the top Democrat and Republican on the Senate Banking Committee to approve the three nominees, Sen. McConnell and other Republican lawmakers want the CFPB to be led by a committee instead of a single individual. If President Obama makes a recess appointment of Cordray, Republicans will probably delay pending nominees.
(Graphic credit: CFPB)

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