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Thursday, February 14, 2013

54 Democratic Senators Sign Letter in Support of CFPB's Cordray Confirmation

Earlier today, Senate Majority Leader Harry Reid and Senate Banking Committee Chairman Tim Johnson lead tan effort to send President Obama a letter signed by a total of 54 democratic and independent Senators in support of his renomination of Richard Cordray as Director of the CFPB. 

In the letter, the Senators express support for Cordray and oppose "any structural changes" to the CFPB.

With 54 votes in the Senate, Cordray has enough votes to be confirmed as Director, but a super majority of 60 votes is needed before the Senate can bring Cordray's renomination to the Senate floor for a vote. 

Read a press release, which includes the letter, from the Senate Banking Committee.