June 13, 2011
The Washington Post reports Senate Minority Leader Mitch McConnell (R-KY) is still vowing to block any nominee to lead the new Consumer Financial Protection Bureau until changes to the agency’s set-up are made.
The renewal of McConnell’s promise comes despite news that the White House is considering nominating former Capital One and Deutsche Bank leader Raj Date instead of Elizabeth Warren, who is currently leading efforts to set up the agency. Republicans want the agency to be led by a five-member panel rather than a sole director, according to the Washington Post.
Last month, 44 GOP senators including McConnell in a letter to President Obama vowed to block any CFPB nominee until the agency’s regulatory authority was reigned in. The Associated Press reported that several House Democrats, including Dodd-Frank co-author Barney Frank, believe some do not want to see Elizabeth Warren leading the new Consumer Financial Protection Bureau is because she is a woman.
“It’s not sexist. It’s not Elizabeth Warren-specific,” McConnell spokesman Donald Stewart said. “It’s any nominee.”
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