JOHNSON STATEMENT ON COMMITTEE APPROVAL OF RICHARD CORDRAY’S NOMINATION TO LEAD THE CFPB
Committee also sends nominations for the Council of Economic Advisers, HUD, and the Export Import Bank to the full Senate
WASHINGTON – Senate Banking Committee Chairman Tim Johnson (D-SD) released a statement following the successful Committee vote on the nomination of Richard Cordray to be the first ever Director of the Consumer Financial Protection Bureau. The Committee voted to send Mr. Cordray’s nomination to the full Senate with a straight party line vote 12-10.
“Today’s Banking Committee vote on Richard Cordray is an important step forward for American consumers. The Consumer Financial Protection Bureau needs a director, and Mr. Cordray has proven he is qualified for the job. He should be confirmed by the full Senate as soon as possible.
“Unfortunately Senate Republicans are blocking his confirmation, and in doing so they are blocking vital new protections for consumers, and putting community banks and credit unions at a disadvantage to their less-regulated competitors.”
The Committee also approved the nominations of Alan Krueger to be a Member of the Council of Economic Advisers; David Montoya to be HUD Inspector General; Cyrus Amir-Mokri to be an Assistant Secretary of the Treasury; and Patricia Loui and Larry Walther to be Members of the Export-Import Bank Board of Directors by voice vote.
Next Article Previous Article