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Senate Democrats Oppose CFPB Reforms

Posted on 2/15/2013

Senate Democrats wrote to President Obama yesterday to say that they strongly support Richard Cordray's re-nomination as Consumer Financial Protection Bureau (CFPB) Director and oppose any structural changes to the Bureau.

"As supporters of strong and effective consumer protection, we oppose efforts to weaken the CFPB through structural changes, including as the price for Senate approval of Director Cordray's nomination," the Senators wrote. "Never before has a President's nominee to lead an agency been blocked, because a minority of Senators do not support the existence of the agency."

All Senate Democrats and affiliated independents signed the letter except Sen. Mark Pryor (D-AR).

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