December 18, 2011
The Senate decided Saturday to delay judgment until next year on former Ohio AG Richard Cordray, President Obama’s nominee to lead the new Consumer Financial Protection Bureau.
(Related: CFPB is “Stalinist,” Says Top GOP Senator)
To prevent Obama from making a “recess appointment,” the Senate will hold several “pro forma” sessions through January 23, according to Reuters.
Earlier this month, Senate Democrats were unable to get the necessary 60 votes to prevent a filibuster, but the final tally came to 53-45.
President Obama issued the following statement following the vote, according to the Boston Globe:
“Consumers across the country understand that part of the reason we got into the financial mess that we did was because regulators were not doing their jobs. We are not going to allow politics as usual on Capitol Hill to stand in the way of American consumers being protected by unscrupulous financial operators. And we’re going to keep on pushing on this issue.”
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