SEC, CFPB Nominees Win Senate Committee Approval

Law360, New York (March 19, 2013, 11:49 AM EDT) -- The U.S. Senate Banking Committee voted Tuesday to approve the nominations of Mary Jo White to chair the U.S. Securities and Exchange Commission and Richard Cordray to lead the Consumer Financial Protection Bureau, setting the stage for a full Senate vote.

The Senate Committee on Banking, Housing and Urban Affairs approved White on a 21-1 vote, with Sen. Sherrod Brown, D-Ohio, as the sole dissenter. Cordray narrowly won confirmation on a 12-10 vote along party lines, underscoring heavy Republican opposition to the nascent CFPB. Cordray has...
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