Cordray Nomination Clears First Hurdle, But CFPB Expanded Authority Faces a Ticking Clock
March 21, 2013
President Obama and other supporters of the Consumer Financial Protection Bureau won an ex-pected victory this week as the Democrat-controlled Senate Banking, Housing and Urban Affairs Committee approved, on a 12-10 party-line vote, the nomination of Richard Cordray to be the director of the bureau for a full five-year term.