Meanwhile, House Financial Services Committee Chairman Jeb Hensarling (R-Texas) said on Jan. 25 that his panel also would advance legislation to reform the CFPB’s structure.
In related news, Sen. Rob Portman (R-Ohio) on Friday asked CFPB Director Richard Cordray to support Republican demands for structural changes in the bureau.
I ... ask for your commitment to work toward some basic accountability reforms of the bureau, the merits of which you and I have discussed on several occasions.Portman noted that the Obama administration’s refusal to consider CFPB structural changes has resulted in an impasse on Cordray's nomination, as evidenced in a letter 43 senators sent to Obama on Friday.
Read Portman’s letter.