Yesterday the Senate Banking Committee held hearings on the appointment of Richard Cordray as Director of the Consumer Financial Protection Bureau.
With little doubt, the hearings were contentious. Senate Republicans sent a letter to President Obama pledging to block the nomination until there were concessions that would completely revamp the agency.
The Huffington Post’s “5 Reasons Why Republicans Should Confirm Richard Cordray as CFPB Director” lists some great reasons on why Mr. Cordray is not only qualified for the job but a great choice to run the agency.
- Cordray has been serving as Director under a recess appointment for the past year
- He’s done a fine job in his role as Director of the CFPB
- He’s exceptionally bright
- He promised the bureau will be supporting honest and responsible businesses
- The argument that the CFPB under a single director would have too much power is simply not true. The OCC supervises more than 2,000 national banks and federal savings associations and is operated by a single director
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