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GOP Reg Reform Supporters: Senate Should Confirm CFPB Director
Sens. Scott Brown (R-Mass.), Olympia
Snowe (R-Maine) and Susan Collins (R-Maine) last week urged President
Obama not to bypass the Senate confirmation process and make a recess
appointment for the director of the Consumer Financial Protection
Bureau. The three lawmakers were the only Senate Republicans who voted
for the Dodd-Frank Act's final passage.
There has been speculation that the president could use a recess
appointment to install the CFPB director because Elizabeth Warren, chair
of the TARP Congressional Oversight Panel and a leading candidate for
the position, could have difficulty being confirmed by the Senate.
"While we may have different views of the need for this new agency, as
supporters of the legislation that included it, we firmly believe the
United States Senate’s responsibilities in confirming the head of the
CFPB are paramount," the senators said in a letter,
“[We] trust that you will agree that the role of the CFPB is far too
critical to be handled without the advice and consent of the Senate and
the full public airing of relevant issues that that entails," they said.
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