Senate advances Biden consumer bureau pick after panel logjam

Senate advances Biden consumer bureau pick after panel logjam
© Greg Nash

The Senate on Tuesday advanced President BidenJoe BidenGrant Woods, longtime friend of McCain and former Arizona AG, dies at 67 Sanders on Medicare expansion in spending package: 'Its not coming out' Glasgow summit raises stakes for Biden deal MORE’s pick to lead the Consumer Financial Protection Bureau (CFPB) after a panel deadlocked on the nomination earlier this year.

Senators voted 49-48 along party lines to discharge Federal Trade Commissioner Rohit ChopraRohit ChopraOn The Money — Democrats confident cuts won't water down bill Trustmark Bank to pay million 'redlining' fine Consumer agency to probe Big Tech's payment systems MORE’s (D) nomination to be director of the CFPB from the Senate Banking Committee. Sens. Dianne FeinsteinDianne Emiel Feinstein Ban on new offshore drilling must stay in the Build Back Better Act Senate GOP signals they'll help bail out Biden's Fed chair Jane Fonda to push for end to offshore oil drilling in California MORE (D-Calif.), Mike RoundsMike RoundsSenate GOP signals they'll help bail out Biden's Fed chair The Hill's Morning Report - Presented by Facebook - After high drama, Senate lifts debt limit Schumer frustrates GOP, Manchin with fiery debt ceiling speech MORE (R-S.D.) and Richard BurrRichard Mauze BurrDemocratic incumbents bolster fundraising advantage in key Senate races McConnell gets GOP wake-up call Senate approves short-term debt ceiling increase MORE (R-N.C.) did not vote.

“Americans need someone at the helm of the CFPB who is ready to stand up to the biggest banks and the most powerful corporations in order to protect consumers. Rohit Chopra has the expertise and track record to lead an agency dedicated to protecting working families and all consumers,” said Banking Committee Chairman Sen. Sherrod BrownSherrod Campbell BrownWhen the Fed plays follow the leader, it steers us all toward inflation Which proposals will survive in the Democrats' spending plan? Senate Democrats call for diversity among new Federal Reserve Bank presidents MORE (D-Ohio).


“Today, he has cleared a key Senate hurdle, and I urge my colleagues to support his final confirmation.”

The Tuesday vote allows Senate Majority Leader Charles SchumerChuck SchumerDemocratic frustration with Sinema rises Schumer endorses democratic socialist India Walton in Buffalo mayor's race Guns Down America's leader says Biden 'has simply not done enough' on gun control MORE (D-N.Y.) to bring Chopra’s nomination up for a final vote sometime this week, though the leader has not yet announced when that will occur. 

Chopra’s bid to join the CFPB stalled in March when the Banking panel voted 12-12, also along party lines, on whether to advance his nomination. The tie forced Schumer to call a vote to move the nomination out of the committee and to the Senate floor. 

Chopra will only need a simple majority of senators to win confirmation, but the polarizing progressive is unlikely to win any Republican support. If all GOP senators are present for his confirmation vote, Chopra will likely need Vice President Harris to break the tie on his nomination.

A Democrat appointed to the FTC by former President TrumpDonald TrumpGrant Woods, longtime friend of McCain and former Arizona AG, dies at 67 Super PACs release ad campaign hitting Vance over past comments on Trump Glasgow summit raises stakes for Biden deal MORE, Chopra is staunch supporter of aggressive financial sector oversight and steep penalties for banks and lenders who run afoul of regulations. He was a top aide to Sen. Elizabeth WarrenElizabeth WarrenSinema's office outlines opposition to tax rate hikes The CFPB's data overreach hurts the businesses it claims to help Runaway higher ed spending gains little except endless student debt MORE (D-Mass.) while she helped stand up the CFPB in 2011 and later became the bureau’s student loan ombudsman.

His close ties to Warren and skeptical eye toward the financial sector have endeared him to liberals, but made his nomination a non-starter with Republicans. 

"I'm deeply concerned that he'd return the CFPB to the hyperactive, sometimes law-breaking, anti-business, unaccountable agency it was under the Obama administration," Sen. Pat ToomeyPatrick (Pat) Joseph ToomeyBlack women look to build upon gains in coming elections Watch live: GOP senators present new infrastructure proposal Sasse rebuked by Nebraska Republican Party over impeachment vote MORE (R-Pa.) said of Chopra in March.