North Dakota Bankers Association - link home

About Us Government Relations and Legal Education Business Partners Communications

NDBA Home















Communications

GOP SENATORS RESTATE OPPOSITION TO CFPB DIRECTOR POSITION

Posted on 9/6/2011

Republican Senators reiterated their pledge to block any nominee to be Director of the Consumer Financial Protection Bureau (CFPB) during Tuesday's Banking Committee hearing on Richard Cordray's nomination for the post. The Senators are seeking changes to the CFPB's structure and funding.

"No one person should have so much unfettered power over the American people," Ranking Member Richard Shelby (R-AL) said. "It blatantly violates the spirit of our democratic system of government." He noted that his opposition was not to Cordray in particular.

Chairman Tim Johnson (D-SD) called Republicans' opposition "political gamesmanship" that is "preventing Americans from receiving the consumer protections they deserve." He said that the President's ability to remove the Bureau's Director and caps on the CFPB's budget serve to ensure accountability.



Members Only
Calendar of Events

ND BANKS Benefit Trust

Office Depot Banker Signup

Security Professionals Workshop

2017 HSA