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
Cordrays CFPB confirmation vote expected today
WASHINGTON (12/8/11)--A U.S. Senate vote on the nomination of Richard Cordray to become director of the Consumer Financial Protection Bureau (CFPB) is expected to take place today.

The nomination of a CFPB director has proven controversial, with legislators for or against the appointment lining up mostly by party lines. For instance, a group of 44 Senate Republicans earlier this year signed a letter saying they would block any CFPB nominee if certain structural changes were not made to the CFPB.

These lawmakers back replacing the director's position with a five-member panel of leadership, among other changes. Some supporters argue this would make the agency actions more transparent. A bill that would impose the changes passed the House by a 241-173 vote in late July, but has not been brought up in the Senate Banking Committee.

Deputy U.S. Treasury Secretary Neil Wolin has countered that the CFPB concerns are unfounded, for instance saying in a Wednesday Treasury Notes Blog post that the CFPB does not lack accountability nor transparency. Treasury is parent agency to the consumer bureau.


RSS





print
News Now LiveWire
Consumer credit ticks up slightly in Jan http://t.co/nAmR7fyGLi
54 minutes ago
RT @cumagazine: Make a good impression during your #CUNAGAC Hill visits: 8 tips http://t.co/C4gtRbQG2s
1 hour ago
Taking a walkthrough before #CUNAGAC starts this weekend. http://t.co/k9hktHjm9b
2 hours ago
There will be lots of social media action at 2015 #CUNAGAC that starts in D.C. this Sunday. http://t.co/vyP4XbtFbk
2 hours ago
.@AACUC1 is part of a group of credit union organizations to introduce a new mentor program for small credit unions http://t.co/2vFE45ZnEW
2 hours ago