Republican Opposition to Cordray Redux (Feb. 4, 2013)
Feb. 4, 2013
Senate Republicans have made it clear their opposition to the re-nomination of CFPB Director Richard Cordray, or any nominee, will not wane until their concerns about the agency are addressed. In a letter to President Barack Obama written by Sens. Mitch McConnell (R-Ky.) and Mike Crapo (R-Idaho) and signed by 43 Republican U.S. Senators, lawmakers reiterated their long-standing and “serious concerns about the lack of congressional oversight of the agency and the lack of normal, democratic checks on its sole director.” They are seeking reforms to the CFPB, including a board to oversee the bureau versus a single director, and they want the CFPB to be subject to the congressional appropriations process.
Late last month, the U.S. Court of Appeals for the D.C. Circuit voided the President’s recess appointments to the National Labor Relations Board. The court’s ruling also casts doubt on the recess appointment of Cordray, who was appointed the same day, Jan. 4, 2012.