U.S. Senate Republicans blocked former Ohio attorney general Richard Cordray's appointment as director of the CFPB. The new bureau is a centerpiece in the Dodd-Frank financial reform law.
this week, President Obama's expected to put the pressure on Congress to approve his nominee to head the Consumer Finance Protection Bureau. But Republicans vow to hold up any nominee until the bureau itself gets overhauled.
The Consumer Financial Protection Bureau can investigate complaints, but that's about it -- at least until a head of the bureau is approved by Congress.