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Thursday, May 16, 2013

Senate Vote on Cordray Nomination Next Week Expected to Fail

Senate Majority Leader Harry Reid (D-Nev.) said yesterday that he will hold a vote next week on the nomination of Richard Cordray to continue as director of the Consumer Financial Protection Bureau, according to press reports.

The vote is not expected to succeed since 43 Republican senators have pledged to block the confirmation of any CFPB director nominee unless the bureau’s structure is reformed. The Senate Banking Committee approved the nomination March 19 by a 12-10 party-line vote.