WASHINGTON - Even as Republicans vow to block the nomination, a U.S. Senate committee will hold a confirmation hearing on Tuesday for former Ohio Attorney General Richard Cordray to head a consumer financial-watchdog bureau.
WASHINGTON — Even as Republicans vow to block the nomination, a U.S. Senate committee will hold a confirmation hearing on Tuesday for former Ohio Attorney General Richard Cordray to head a consumer financial-watchdog bureau.
Cordray has been director of the Consumer Financial Protection Bureau for the past year, after President Barack Obama used a recess appointment to place him in the post. Obama acted after Senate Republicans used a procedural move to block Cordray’s nomination.
In January, Obama re-nominated Cordray as full-time director, but 42 Senate Republicans vowed to again block Cordray’s nomination until the administration agrees to modify some of the bureau’s powers. They want Congress to approve the bureau’s annual budget, and they insist that the bureau be governed by a five-person bureau, not a sole director.
Also on Tuesday, the U.S. Senate Banking Committee plans a hearing on the nomination of Mary Jo White to head the Securities and Exchange Commission.
White, a 65-year-old former federal prosecutor, was nominated by Obama earlier this year. If confirmed, she would replace Elisse Walter, who took over the helm of the agency in December after Mary Schapiro stepped down. White is not expected to face opposition.
Information from Reuters was included in this story.