GOP Sen. McConnell: I'll Block CFPB Nominees

Friday, 10 Jun 2011 04:55 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Sen. Mitch McConnell, R-Ky., is vowing to block any nominee to head the Consumer Financial Protection Bureau (CFPB). The vow comes as a new candidate with ties to the banking industry has emerged to head the new and controversial agency, The Washington Post reports.

GOP opposition to the bureau has focused on Harvard law professor Elizabeth Warren, who is in charge of setting up the consumer watchdog.

Mitch McConnell,CFPB,Consumer Financial Protection Bureau,Senate minority leader,Elizabeth Warren,recess appointment
Mitch McConnell
However, sources told the Post that the Obama administration is not considering one of Warren’s staff for the job, Raj Date, who worked for Capital One and Deutsche Bank.

Regardless, spokesman Donald Stewart said the Senate Minority Leader stands by his pledge to block any candidate.

The GOP wants the CFPB to be run by a five-member commission, tougher oversight, and be funded by Congress.

Any senator can hold up a nominee. However, President Barack Obama can sidestep the rule by making a recess appointment.

The agency is set to launch July 21.

Without a director, the agency’s power to write rules or supervise non-bank financial firms, such as payday lenders, will be limited, according to the Post.



© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

GOP Making Bold Play for US Senate Seat in Oregon

Sunday, 20 Apr 2014 11:28 AM

The GOP is making a bold play for a U.S. Senate seat in reliably Democratic Oregon, where a Republican hasn't been elect . . .

Viguerie: Time for Tea Party to Take Back 'Hijacked' Republican Party

Saturday, 19 Apr 2014 21:00 PM

Tea party conservatives who are angry at establishment Republicans for allowing the GOP to be hijacked need to "take o . . .

McMorris Rodgers: 'Politicizing' Women Not the Answer

Saturday, 19 Apr 2014 18:15 PM

Accusations from Democrats that Republicans do not support equal pay for equal work could not be further from the truth . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved