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.
Republicans are trying to block the appointment of Richard Cordray as director of the CFPB in preference of a commission; Democrats say it's a fight against consumer protection.
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.