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Wednesday, March 20, 2013

Senate Banking Panel Approves White & Cordray Nominations

The Senate Banking Committee approved by a 21-1 vote the nomination of Mary Jo White to be SEC chairman. The panel also approved by a 12-10 party-line vote the nomination of Richard Cordray to continue as director of the CFPB.

Senate Majority Leader Harry Reid (D-Nev.) said the full Senate would vote on the nominations “sometime after Easter.” The Senate is expected to confirm White. But 43 Republican senators have pledged to block the confirmation of Cordray or any other nominee for CFPB director unless the bureau’s structure is reformed.

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