NPR : News

Filed Under:

    Obama's Choice To Head Consumer Protection Agency Blocked

    A vote to move forward on the nomination of former Ohio Attorney General Richard Cordray to run the new federal consumer protection agency fell seven votes short in the Senate this morning. Republicans banded together to make sure there weren't the 60 votes needed to invoke cloture and move on to a vote on the nomination itself.

    The GOP senators, as NPR's Andrea Seabrook has reported, say the Consumer Financial Protection Bureau has been made too strong. They "want to change the way the protection bureau would work," Andrea reported. "Instead of one director, they want a board to oversee it, and they're ready to filibuster if they don't get their way."

    President Obama just said that the bureau is part of an effort to "ensure that there's fair play out there."

    "Consumers across the country understand that part of the reason we got into the financial mess we did was because regulators were not doing their jobs," the president said. "There is no reason Mr. Cordray should not be confirmed."

    The president vowed that "we are going to keep on pushing on this issue."

    Update at 11:50 a.m. ET. Recess Appointment Possible:

    Asked if he might use a "recess appointment" to put Cordray in the job while Congress is off for its holiday break, the president said he would not take such an option off the table.

    Copyright 2011 National Public Radio. To see more, visit http://www.npr.org/.

    NPR

    Book Review: 'Born To Run,' Bruce Springsteen

    Music critic Will Hermes reviews a new autobiography from Bruce Springsteen called Born To Run.
    WAMU 88.5

    A Matter Of Taste: What Prix Fixe Menus Say About D.C.'s Dining Scene

    Is a meal for a special occasion worth hundreds of dollars?

    NPR

    Clinton-Trump Showdown Is Most-Watched Presidential Debate

    An estimated 84 million people watched Hillary Clinton and Donald Trump in their first debate Monday, according to TV ratings data from Nielsen, making it the most-watched debate ever.
    NPR

    When Phones Went Mobile: Revisiting NPR's 1983 Story On 'Cellular'

    The report titled "Cellular Phones Are Completely Mobile" features a man who was "among the first 1,500 customers to use a new mobile phone system called cellular."

    Leave a Comment

    Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.