Warren Says Republicans Want to Weaken U.S. Consumer Bureau
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U.S. Senator Elizabeth Warren accused Republicans of trying to weaken the Consumer Financial Protection Bureau by blocking the confirmation of its director unless lawmakers agree to change the agency’s structure.
Warren spoke at a Senate Banking Committee hearing today to consider the nomination of Richard Cordray to head the agency. Cordray faces a pledge by 43 Republican senators -- enough to prevent a floor vote -- to block his confirmation unless Democrats agree to structural changes to the bureau, created by the 2010 Dodd-Frank Act.