Dems Refuse To Budge On CFPB Structure At Cordray Hearing

Law360, New York (March 12, 2013, 2:04 PM EDT) -- Senate Democrats on Tuesday said Republican demands that the CFPB's leadership and funding mechanism be restructured as a condition for confirming Richard Cordray as the agency's director were intended to weaken the CFPB, instead pushing for a straight up-or-down vote on the nomination.

Cordray's confirmation hearing before the Senate Banking Committee was dominated by the ongoing battle between Republicans and Democrats over the CFPB's structure and funding, even as Republicans on the committee complimented Cordray on his work and transparency in his year atop the agency...
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