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Senate Banking Committee to Vote on Consumer Protection Nomination

Today, the Senate Banking committee is scheduled to vote on the nomination of Richard Cordray to lead the Consumer Financial Protection Bureau. While his nomination is expected to pass in the Democratic-led committee, he will likely face opposition from the committee’s 10 Republican members.

Every Republican member of the committee signed a letter to President Obama stating that they would oppose any nominee to head the agency unless major changes were made to weaken its ability to protect consumers.