Cordray Senate confirmation hearing in less than an hour

Richard Cordray, President Obama’s pick to run the CFPB, will be going before the Senate Banking Committee at 2:30 p.m. EST today. A flurry of stories came through this morning, some touting Cordray’s promises of cooperation.

According to the Associated Press, in remarks prepared for the hearing, Cordray said his experience as former Ohio attorney general taught him that litigation can be slow, costly, and unnecessarily acrimonious. He said he would use lawsuits “judiciously,” and noted that the bureau has other powers to resolve problems, including issuing rules, writing reports and examining large banks and many nonbank institutions.

In a bid to reach out to Republicans, Cordray also said that if confirmed, “I promise that you will have one person who will always be accountable to you for how we are carrying out the laws laid down by Congress and I will be eager to hear your thoughts about how we should do our work.”

Here’s a look at what’s on the docket for today’s hearing:

Panel 1

  • Ms. Patricia M. Loui
    to be a Member of the Board of Directors
    Export-Import Bank of the United States, Hawaii
  • Mr. Larry W. Walther
    to be a Member of the Board of Directors
    Export-Import Bank of the United States

Panel 2

  • Honorable Richard Cordray
    to be Director
    Bureau of Consumer Financial Protection
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