The Senate voted 66-34 Tuesday to confirm President Obama’s nominee to lead the Consumer Financial Protection Bureau (CFPB).
Richard Cordray was one of several controversial nominees that Republicans will allow to get an up-or-down vote after Senate Majority Leader Harry ReidHarry ReidFranken emerges as liberal force in hearings GOP eyes new push to break up California court The DC bubble is strangling the DNC MORE (D-Nev.) threatened to use the “nuclear option” to change the Senate rules by eliminating the ability of the minority to filibuster an executive branch nominee.
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Earlier Tuesday, 17 Republicans joined Democrats in a 71-29 vote to end debate on Cordray’s nomination.
Sen. Chuck GrassleyChuck GrassleySessions can put the brakes on criminal justice 'reform' GOP senator: Trump budget chief could face confirmation 'problems' Jeff Sessions will protect life MORE (R-Iowa) and other Republicans have complained that the bureau lacks congressional accountability and oversight.
Sen. Mike CrapoMike CrapoLive coverage of Sessions confirmation hearing Senate rejects Paul's balanced budget Dems attack Trump SEC pick's ties to Wall Street MORE (R-Idaho), ranking member on the Senate Banking Committee, also pointed out that Republicans want to replace Cordray's director position with a bipartisan “board of directors with staggered terms.” He also expressed concern over recent reports that the bureau is conducting “unprecedented data collection.”
“The CFPB is collecting credit card data, bank account data, mortgage data and student loan data,” Crapo said ahead of the vote. “This ultimately allows the CFPB to monitor a consumer’s monthly spending habits.”
The D.C. District Court recently ruled Cordray’s recess appointment was unconstitutional, but now with Senate backing he will be able to serve a full five-year term as head of the agency.
Earlier Tuesday, Reid announced lawmakers had a deal to avoid the “nuclear option” and hold votes on several of President Obama’s controversial nominees, in addition to Cordray.
Democrats are hoping to vote in the next two weeks on Fred Hochberg to be president of the Export-Import Bank, Thomas PerezThomas E. PerezClinton’s top five vice presidential picks Government social programs: Triumph of hope over evidence Labor’s 'wasteful spending and mismanagement” at Workers’ Comp MORE to be secretary of Labor, and Gina McCarthyGina McCarthyCongress should investigate cancer collusion Obama won’t weaken car emissions standards Overnight Energy: Rough hearing for Tillerson MORE to be administrator of the Environmental Protection Agency, in addition to several National Labor Relations Board nominees.
Democrats said Cordray’s confirmation was needed to give banks and consumers certainty. Republicans argued that his nomination was delayed — nearly two years — because they were exercising the right to “advise and consent” on executive branch nominees granted under the Constitution.