Cordray nomination passes Senate Banking Committee

The Senate Banking Committee voted along party lines today to push Richard Cordray’s nomination to lead the new Consumer Financial Protection Bureau ahead, although Republicans have vowed to block his confirmation, according to the New York Times.

The panel voted 12-to-10 to approve Cordray’s nomination.

“We are simply seeking common-sense changes,” Mr. Shelby, the committee’s ranking minority member, said in a statement after the vote. “Today’s vote by the Senate Banking Committee was premature. No nominee for the director of the Bureau of Consumer Financial Protection should receive consideration until the Democrats are ready to stop playing politics and work with us to make the bureau accountable. It’s their choice.”

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