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
Square Launches Register App Platform
News
Etsy Debuts mPOS Solution
Merchant Innovation
Ron Johnson’s New Company To Focus On Shopper Decisions
B2B Payments
WEX and Sinclair Oil Strike Long Term Contract
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
B2B Payments
Tungsten Spent $6.5 Million for DocuSphere
Company Spotlight
Inside the Future of Commerce, Post Apple Pay
Alternative Financial Services
Death Threats, Fraudsters and Lawsuits
News
How to Overcome the 10 Most Common Cyber Threats
View All Articles ››