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Washington
Senate to vote on CFPB head nomination this week
WASHINGTON (12/6/11)--The White House has said the Senate will vote this week on Richard Cordray's nomination to become head of the Consumer Financial Protection Bureau (CFPB), and the Obama administration added it is aggressively seeking Republican support for his nomination ahead of the hearing.

It is widely reported that the vote would take place on Thursday, Dec. 8.

Cordray's nomination to be CFPB director was approved by the Senate Banking Committee in October, but has stalled since then. Over 40 senators have said they will not vote to confirm any CFPB nominee unless changes to the CFPB are enacted. Those changes include increasing CFPB leadership to a five-member commission and reforming some operational rules.

The CFPB is currently operating under the leadership of Raj Date, associate director of research, markets & regulations, while it waits for a full director.


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