The Senate Banking Committee on Tuesday approved Richard Cordray's nomination to remain director of theConsumer Financial Protection Bureau.
|Sam Gilford, committee press secretary,said the 12-10 vote was along party lines, with all 12 Democrats onthe committee voting to approve Cordray's appointment and all 10Republicans voting against it.
|The next step in Cordray's nomination process is a vote by thefull U.S. Senate. Senate Republicans have vowed to block the vote,instead preferring Cordray be replaced by a five-personcommittee.
|CUNA said it backs a multi-member panel of directors as proposedby congressional Republicans if it includes seats statutorilydesignated for credit union system representatives, including astate or federal credit union regulator, and possibly a stateconsumer agency representative.
|Mary Jo White was also approved by the committee Tuesday to jointhe Securities and Exchange Commission board. White was approved bya 21-1 vote, the committee said.
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