Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Cordray Nomination Is In the Spotlight
WASHINGTON (7/16/13)--Credit Union National Association Senior Vice President of Legislative Affairs Ryan Donovan Monday alerted credit unions that they may be in for "one of the more significant weeks in recent U.S. Senate history" as that body prepares to move forward on several nominations put forward by the Obama administration--including that of Richard Cordray to formally become director of the Consumer Financial Protection Bureau.
 
The Cordray nomination is a partisan wrangling point.  While Democrats generally support his appointment, 43 Republicans have demanded changes to the CFPB structure--broadening it to a five-member board rather than a single directorship--meaning it could be all but impossible to get the 60 votes needed to confirm Cordray as CFPB head.
 
Late last week, Senate Majority Leader Harry Reid (D-Nev.) moved cloture on several nominations, including Cordray's, meaning he invoked a parliamentary procedure that aims to bring a quick end to debate. But more notably the majority leader also announced his intention to pursue a controversial Senate rule change that would limit the filibuster opportunities for certain presidential nominations--the so-called "nuclear option."
 
Late Monday, the Senate held a rare bi-partisan caucus meeting in the Old Senate Chamber to discuss how to proceed on the issue of presidential nominations.

In addition to the CFPB nomination, the Senate is expected to vote this week on the nominations of:
  • Thomas Perez for secretary of the U.S. Labor Department;
  • Gina McCarthy for administrator of the Environmental Protection Agency;
  • Mark Gaston Pearce, Richard F. Griffin Jr., and Sharon Block for the National Labor Relations Board; and
  • Fred Hochberg for president of the Export-Import Bank of the United States.


RSS





print
News Now LiveWire
Through the snow, be on the lookout for a @CU4Kids @CMNHospitals @COOPFS billboard in @TimesSquareNYC this week
2 hours ago
.@CUNA , trades unite to urge Congress on #datasecurity action http://t.co/gzmZGX9nfF
5 hours ago
State of Wash. @dficonsumers has expanded its CAMEL ratings to include an "S" for interest-rate sensitivity.
5 hours ago
.@HUDgov tweets: Be sure to tune in tonight to watch @SecretaryCastro on @TheDailyShow with Jon Stewart http://t.co/B1L23NQaoJ
6 hours ago
.@NJCUL Southern Chapter meeting canceled due to the impending snowstorm
6 hours ago