On “Meet the Press” this past weekend, Sen. Lindsey Graham (R-SC) defended Republicans’ decision to block the nomination of President Obama’s choice to lead Consumer Financial Protection Bureau, former Ohio AG Richard Cordray.
“It is something out of the Stalinist Era,” he said, according to Politico. “The reason Republicans don’t want to vote for it is we want a board, not one person making all the regulatory decisions, and there’s no oversight under this person; he gets a check from the Federal Reserve. We want him under the Congress so we can oversee the overseer.”
GOP lawmakers want to see the CFPB led by a bipartisan panel as opposed to a sole director. Listen to reaction by both Durbin and Graham beginning at 8:30 in the video below:
