Cordray Hearing Postponed Until September
The confirmation hearing for Richard Cordray to be director of the new Consumer Financial Protection Bureau has been changed from Thursday until Sept. 6, Senate Banking Committee Chairman Tim Johnson announced Tuesday.
Johnson (D-S.D.) didn't give a reason.
Senate Republicans have said they won't approve any nominee to run the bureau unless the Obama administration makes structural changes to it, including replacing the director with a fve-member board.
Last month, the House passed legislation that would accomplish that but Senate Democrats oppose the changes.