Senator: Republicans To Block CFPB Director Nominations

What's Next In Payments®
3:48 PM EDT February 3rd, 2013

Sen. Michael Crapo (R – Idaho) has announced that house Republicans will look to block any appointments for Director of the Consumer Financial Protection Bureau (CFPB) until the agency is restructured, according to BankCreditNews.com.

“This issue isn’t about Richard Cordray,” Crapo said. “It is about the agency itself and how it was structured. We are not prepared to move forward with any nominee. That hasn’t gotten anything to do with the individual person who is at issue right now, Richard Cordray. I don’t think we’re ready to move forward with any nominee until the agency is restructured an reformed in a way that is proper.”

President Obama recently appointed the re-nomination of Cordray to CFPB head, but the appointment has come under fire thanks to a federal appeals court decision that Obama’s NLRB appointments were unconstitutional.

Read the full story here.

Topics:
Comments
Also by This Author
What's Hot
News
Not A News Flash: Payment Fraud Will Explode During EMV Rollouts
News
The Twelve Month Countdown: Mobile and EMV? Mobile or EMV?
B2B Payments
Tungsten Brings Its E-Invoice Platform To Qatar
B2B Payments
Rules Governing Military Travel Management Changing
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
News
Not A News Flash: Payment Fraud Will Explode During EMV Rollouts
Apple Pay Tracker
Apple Adds Buy-It Buttons to iAd
Apple Pay Tracker
The Apple Pay Beacon Trojan Horse
News
The Twelve Month Countdown: Mobile and EMV? Mobile or EMV?
View All Articles ››