CFPB Head Nomination Moves To Full Senate

Law360, New York (October 6, 2011, 12:34 PM EDT) -- The contentious nomination of Richard Cordray to lead the fledgling Consumer Financial Protection Bureau took a step toward approval Thursday, barely passing the Senate Committee on Banking, Housing and Urban Affairs in a party-line vote.

With the bureau unable to assume its full power to regulate certain nonbank companies that provide student, payday and mortgage loans and to institute rulemaking until it has a permanent director, President Barack Obama announced the nomination of former Ohio attorney general and current CFPB enforcement chief Cordray for the post...
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