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Senate Banking Panel Approves Cordray, White Nominations

Richard Cordray
Richard Cordray

The Senate Banking Committee has approved the nominations of Richard Cordray to lead the Consumer Financial Protection Bureau and Mary Jo White to chair the Securities and Exchange Commission, Politico reports.

White’s appointment moved through on a 21-1 vote while the panel voted 12-10 along party lines to approve Cordray, according to the story by Zachary Warmbrodt and Seung Min Kim.

Cordray took office in January 2012 via a recess appointment and his term will expire at the end of the year barring Senate confirmation, the report said.

Bloomberg reports Republican senators are holding up his nomination as they want the agency run by a commission instead of a director and have a budget approved by Congress.

 

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