GOP senators vow to block consumer office nominee
WASHINGTON (AP) — Renewing a three-year-old fight over bank oversight, Senate Republicans said Friday they will oppose President Barack Obama's nominee to head the Consumer Financial Protection Bureau unless the office created after the 2008 Wall Street financial meltdown is significantly changed.
Obama has renominated current director Richard Cordray, who had been named in a recess appointment last year.
Senate Republican leader Mitch McConnell and 42 other GOP senators sent a letter Friday to Obama saying the consumer office has little accountability to Congress and wields too much regulatory authority. They said they will oppose any nominee, no matter his or her party affiliation.
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