Biden swears in Cordray

Vice President Biden swore in Cordray at 9:53 a.m., one day after the Senate finally confirmed Cordray to the position he was nominated for more than two years ago, according to a White House pool reporter.

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An agreement to avert the so-called "nuclear option" in the Senate finally permitted Cordray's nomination to move forward, along with several other stalled nominees. Republicans had refused to consider Cordray's nomination, demanding several structural changes to the agency.