WASHINGTON — The Senate will finally vote next week on the long-awaited appointment of Richard Cordray as director of the Consumer Financial Protection Bureau. Senate Majority Leader Harry Reid told reporters he plans to hold the vote during the week of May 20. The news was reported first by the website Talking Points Memo.
However, the confirmation vote is likely to fail in the face of ongoing Republican opposition. GOP lawmakers have argued they will not confirm Cordray or any CFPB head until several structural changes are made to the agency, including replacing its director with a five-member board and subjecting it to the appropriations process.
The pending vote, along with frustration over several other stalled nominations, has spurred renewed discussions among lawmakers and observers about whether Reid should invoke the so-called "nuclear option" to override the 60 votes necessary to stop a filibuster. The majority leader could change Senate rules to require a simple majority vote instead.
