At a confirmation vote on Tuesday morning, the Senate Banking Committee was split down party lines in support of Richard Cordray, director of the Consumer Financial Protection Bureau. The panel voted in favor of Mary Jo White to serve as chairman of the Securities and Exchange Commission, with only one vote against her nomination.
The banking panel voted 12-10 in favor of Cordray, and 21-1 in favor of White.
"Both nominations will now be sent to the Senate floor, where White is expected to be confirmed," writes American Banker's Victoria Finkle.
Republicans will not confirm Cordray, or any director, of the CFPB until the agency agrees to structural changes.
For the full piece see "
