The Senate's approval of Richard Cordray's nomination to lead the Consumer Financial Protection Bureau is likely to end the Republicans' push for a change to the bureau's structure.
Lawmaker's voted 66 to 34 on Tuesday to confirm Cordray, who has been running the CFPB under a recess appointment.
"Ever since Cordray's original nomination two years ago, Republicans and some in the industry saw the appointment as a way to negotiate changes to the CFPB's structure that had been mandated by the Dodd-Frank Act," writes American Banker's Victoria Finkle and Rachel Witkowski.
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