Senate Minority’s Refusal to Hold a Vote on CFPB Director cordray threatens consumer safety and Could Undermine Economy Tuesday, March 12, 2013. WASHINGTON, D.C. -The senate banking committee held a hearing today on the nomination of Richard Cordray to serve as Director of the Consumer Financial Protection Bureau (CFPB).

The Senate majority leader, Harry M. Reid (D-Nev.), and banking committee chairman, Tim Johnson (D-S.D.), joined the fight Thursday. inconsistent with our democratic values,” Reid and Johnson said.

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“When Donald Trump hired John Bolton, the fight. Democrats in 2014 used their position on the Senate Banking Committee to block the potential nomination of Larry Summers as chair of the Federal.

The U.S. Senate Banking Committee approved the nomination of Richard Cordray to head the Consumer Financial Protection Bureau in a party-line vote that reflected the remaining obstacle to his.

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Democrats Stand with President Obama on Cordray Nomination WASHINGTON, DC – Today, Senate Majority Leader Harry Reid and Senate Banking Committee Chairman Tim Johnson (D-SD) spearheaded a letter to President Obama, signed by 54 Senate Democrats and Independents, commending him for his support for the Consumer Financial Protection Bureau (CFPB) and for renominating Richard Cordray to be Director.

The Senate Banking Committee approved Cordray’s nomination as director of the federal Consumer Financial Protection Bureau by a 12-10 vote, with Democrats supporting him and Republicans opposing.

Cordray was nominated by the president, passed out of the Senate Banking Committee and the next step is a floor vote, albeit one he is likely to lose. The vote also provides the White House and Senate Democrats with more ammunition in their calls against Republican obstructionism.

WATCH LIVE: Senate Judiciary Committee to vote on the nomination of William Barr The Senate must still confirm him, but Cordray is meantime on the job until at least the end of 2013.. and the Senate Banking Committee hearing or hearings will offer clues as to whether the.

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 · His nomination received broad support from attorneys general and other law enforcements groups, including the Fraternal Order of Police, and was approved on a bipartisan basis with 66 votes in the U.S. Senate. During Cordray’s tenure, the Senators wrote that the CFPB has received praise from civil rights groups, consumer advocates, and financial industry organizations.