White House doesn’t have votes for nominee for consumer bureau chief

A White House push to secure support for President Obama’s nominee to lead the new Consumer Financial Protection Bureau looks to be well short of the 60 Senate votes needed to move forward. 

Senate Republicans offered a public show of unity Tuesday against former Ohio Attorney General Richard Cordray’s nomination, suggesting centrist Sen. Scott Brown (Mass.) might remain the lone GOP defector. 


It’s also unclear whether the White House can count on all of the 53 senators who caucus with Democrats. 

The party is defending 23 seats in the 2012 elections, and many of them are in red states where Obama’s healthcare and Wall Street reform bills are unpopular.

Among the Democrats not rushing to show support for Obama’s nominee on Tuesday was Sen. Claire McCaskillClaire Conner McCaskillThe Hill's Morning Report - Presented by Uber - Jan. 6 commission vote delayed; infrastructure debate lingers into June Missouri Republicans move to block Greitens in key Senate race Democratic Kansas City, Mo., mayor eyes Senate run MORE (Mo.), who faces a difficult race for a second term. She said she is still thinking about her vote and hasn’t decided whether to support Cordray. 

An aide to Sen. Bill NelsonClarence (Bill) William NelsonNASA's sudden interest in Venus is all about climate change Demings raises million after announcing Senate bid against Rubio Russia threatens to leave International Space Station program over US sanctions MORE (D-Fla.), who likewise faces a tough reelection fight, said the senator hasn’t completed a staff briefing on the Cordray nomination. 

The GOP effort follows a public push by the White House in support of Cordray’s nomination to lead the new bureau created by last year’s Wall Street reform law. Senate Majority Leader Harry ReidHarry Mason ReidBiden fails to break GOP 'fever' Nevada governor signs law making state first presidential primary Infighting grips Nevada Democrats ahead of midterms MORE (D-Nev.) has scheduled a vote to end debate on the nomination for Thursday. 

Republicans on Tuesday insisted they would block Cordray’s confirmation in the procedural vote unless the White House agrees to significant changes to the agency’s framework. 

The unity was expressed at a GOP news conference, where several senators from states the White House targeted in pushing for Cordray lined up to explain their opposition. 

GOP Sens. Mike LeeMichael (Mike) Shumway LeeSenate confirms Biden pick for No. 2 role at Interior Big Tech critic Lina Khan named chair of the FTC GOP senators press Justice Department to compare protest arrests to Capitol riot MORE (Utah), Orrin HatchOrrin Grant HatchDrug prices are declining amid inflation fears The national action imperative to achieve 30 by 30 Financial market transactions should not be taxed or restricted MORE (Utah), Bob CorkerRobert (Bob) Phillips CorkerCheney set to be face of anti-Trump GOP How leaving Afghanistan cancels our post-9/11 use of force The unflappable Liz Cheney: Why Trump Republicans have struggled to crush her  MORE (Tenn.), Dick Lugar (Ind.) and Susan CollinsSusan Margaret CollinsPortman: Republicans are 'absolutely' committed to bipartisan infrastructure bill Democratic clamor grows for select committee on Jan. 6 attack Centrists gain foothold in infrastructure talks; cyber attacks at center of Biden-Putin meeting MORE (Maine) attended the public event. 

When the White House launched its latest public push for Cordray, spokesman Josh Earnest said the administration would target senators from seven states — Alaska, Indiana, Iowa, Maine, Nevada, Tennessee and Utah.

The appearance by Collins was notable in that she broke with her party last week to support an extension of the payroll-tax cut. Collins also voted for the Wall Street reform bill, but she said she would be a “no” vote on Thursday because she is “completely opposed to appointing a nominee to head this bureau until we correct the very serious structural flaws that are in the bill.”

Republicans have three key demands for changes to the agency, which was spearheaded by liberal Elizabeth WarrenElizabeth WarrenBiden risks break with progressives on infrastructure The Memo: The center strikes back Centrists gain foothold in infrastructure talks; cyber attacks at center of Biden-Putin meeting MORE, who is now a Democratic Senate candidate challenging Brown in Massachusetts. 

The GOP senators said the agency should be led by a board and not one person, arguing that a single individual would have too much power without any congressional oversight. 

Republicans also said the agency should be part of the appropriations process and should not be funded by the Federal Reserve, as set up under the Wall Street reform law. 

Allowing the bureau to be funded by the Fed gives it a “funding stream that’s completely unique in government, entirely without a check from the American people … making it one of the least transparent agencies in Washington,” Senate GOP Leader Mitch McConnellAddison (Mitch) Mitchell McConnellDemocrats go down to the wire with Manchin Schumer unloads on GOP over elections bill: 'How despicable of a man is Donald Trump?' This week: Senate set for voting rights fight MORE (Ky.) said at the news conference.

The GOP’s third demand is that congressional committees get oversight jurisdiction for the bureau. 

Senate Banking Committee ranking member Richard Shelby (R-Ala.) said the changes are needed “to prevent this from being a completely runaway, unaccountable agency, which is exactly the way it was crafted to be.”

While the Republicans said they regard Cordray as “qualified,” they argued that the lack of congressional oversight of an agency that could spend $500 billion is unacceptable. 

“It makes no sense for a structure to be created, no matter how noble the cause may be, where there is simply no accountability, no oversight for the budget,” Collins said. 


Hatch said the fact that Obama originally nominated Warren, whom Hatch termed a “partisan” nominee, shows that the position could be misused in the future, even though Cordray seems a “decent person.”

Lugar, who faces a difficult primary fight, said he has not wavered in his opposition because the White House hasn’t made a move, so far, to make what he deemed necessary changes to the agency. 

“It is ridiculous. I think everyone in Indiana agrees with me on this one,” Lugar said of the White House push in his state. 

“I stand with my colleagues on this issue, because clearly this is a case of tremendous overregulation without any control by the Congress.”