For two years, Democrats and Republicans have been at an impasse over the nomination of the Consumer Financial Protection Bureau's Director Richard Cordray, and next week Senate Majority Leader Harry Reid is once again calling up the long-awaited confirmation vote.
The GOP lawmakers have fought for structural changes to the agency, including replacing its single director with a five-member board. Although Cordray is considered to be qualified for the position as CFPB director, he is not expected to be confirmed because of the Republican opposition.
American Banker's Victoria Finkle asks and answers the pertinent questions regarding the highly anticipated vote, including why Reid is pursuing the vote now and what is expected in its aftermath.
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