Read time: 1 minute

McConnell: GOP Will Still Block CFPB Nomination

President Barack Obama has decided to nominate Richard Cordray to head the Consumer Financial Protection Bureau (CFPB) instead of Elizabeth Warren, but Senate Minority Leader Mitch McConnell (R-KY) doesn't care. He says Republicans still plan to
Views:

President Barack Obama has decided to nominate Richard Cordray instead of Elizabeth Warren to head the Consumer Financial Protection Bureau (CFPB), but Senate Minority Leader Mitch McConnell (R-KY) doesn't care. He says Republicans still plan to block the nomination.

"I would remind [President Obama] that Senate Republicans still aren't interested in approving anyone to the position until the president agrees to make this massive government bureaucracy more accountable and transparent to the American people," McConnell announced on the Senate floor Monday.

He continued: "Back on May 5 of this year, 44 Republican Senators signed a letter to the president stating -- quote -- 'We will not support the consideration of any nominee, regardless of party affiliation, to be the CFPB director until the Consumer Financial Protection Bureau is reformed.'"

"We have no doubt that without proper oversight, the CFPB will only multiply the kind of countless, burdensome regulations that are holding our economy back right now and that it will have countless unintended consequences for individuals and small businesses that constrict credit, stifle growth, and destroy jobs. That's why everyone from florists to community bankers opposed its creation in the first place. That's why we'll insist on serious reforms to bring accountability and transparency to the agency before we consider any nominee to run it."

Can you help us out?

For 17 years we have been exposing Washington lies and untangling media deceit, but now Facebook is drowning us in an ocean of right wing lies. Please give a one-time or recurring donation, or buy a year's subscription for an ad-free experience. Thank you.

More C&L Coverage

Discussion

New Commenting System

Our comments are now powered by Insticator. In order to comment you will need to create an Insticator account. The process is quick and simple. Please note that the ability to comment with a C&L site account is no longer available.

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service (revised 3/17/2016) for information on our posting policy.

Please Do Not Use the Login Link at the Top of the Site.

In order to comment you must use an Insticator account. To register an account, enter your comment and click the post button. A dialog will then appear allowing you create your account.

We will be retiring our Crooks and Liars user account system in January, 2021.

Thank you.
C&L Team