In a news release, Brown said he would have preferred regular Senate confirmation of Richard Cordray to lead the Consumer Financial Protection Bureau (CFPB), but agreed that the "completely broken" political process in Washington prevented such a scenario.
"I support President Obama's appointment today of Richard Cordray to head the CFPB," Brown said in the statement. "I believe he is the right person to lead the agency and help protect consumers from fraud and scams."
The centrist Brown, who is working hard to cast himself as "the most bipartisan" lawmaker from his state as he faces an uphill battle against Democrat Elizabeth Warren in this year's election, also suggested that he hopes more of his colleagues will follow in his bipartisan footsteps.
"If we're going to make progress as a nation, both parties in Washington need to work together to end the procedural gridlock and hyper-partisanship," he said.
Warren, for her part, also expressed approval of Obama's move, saying Cordray is an "exceptional choice" to lead the CFPB.
Brown stunned the political world in a 2010 special election by winning the seat, in deep-blue Massachusetts, that had been held by the late Sen. Edward Kennedy (D).