Forty-four of 46 Republican Senators vowed they would not approve “any consumer financial bureau director unless the agency was put under a five-member outside board, had its work checked periodically by bank examiners and had its budget approved by Congress rather than the Federal Reserve.”
So when Republicans refused to confirm the President’s nominee, Richard Cordray, to head the Consumer Financial Protection Bureau, America’s number one duffer shouldn’t have been surprised.
Senate Republicans maintained that voting down the nomination of Cordray had everything to do with the Dodd-Frank financial reform agency lacking oversight, and nothing to do
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