Monday, July 18, 2011

Obama Nominee for CFPB Unlikely to Receive Congressional Approval

Richard Cordray, President Obama's choice to head the Consumer Finance Protection Bureau, is unlikely to receive congressional approval.

The nominee's chances of being approved by the Senate, however, are about as good as the chances of a blizzard in Alabama this weekend, say Washington insiders, says the Christian Science Monitor.

Among the obstacles, in May 44 Republican senators signed a letter saying they would block any appointment to head the bureau unless the Congress and president make far-reaching changes to its structure and funding.

Cordray has spent most of his career in government, which apparently gives him significant time to study trivia. He is an undefeated five-time champion Jeopardy champion.

It looks like he'll have plenty of more time sitting around waiting for the Senate to approve his nomination.

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