Senate Banking Panel to Vote on Cordray, White Nominations
The Senate Banking Committee on Tuesday morning will meet in an executive session to vote on the nominations of Richard Cordray to be director of the Consumer Financial Protection Bureau and Mary Jo White to chair the Securities and Exchange Commission for the remainder of the term expiring June 5, 2014.
Cordray, who is expected to face continued GOP opposition when his confirmation is voted upon by the full Senate, is seeking a five-year term to continue to head the CFPB. Senate Republican leaders want to replace Cordray with a five-person commission and reform the CFPB.
Cordray’s appointment has also been challenged by an appeals court ruling that invalidated other appointments made the same day as Cordray’s.
White would fill an existing term at SEC that would expire in a little more than one year, according to the committee’s website.