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Republican senator endorses Cordray

Scott BrownRichard Cordray received his first Republican endorsement for his confirmation to lead the Consumer Financial Protection Bureau from Sen. Scott Brown (R-Mass.) in what appears to be a swipe at Brown’s political opponent.

Brown is being challenged by Elizabeth Warren, the consumer advocate who is credited with designing the CFPB. Warren hoped to be tapped by President Obama to lead the bureau yet returned to Massachusetts once Cordray received the appointment, AmericanBanker.com reports.

Brown’s endorsement is a step away from his party’s position. In May, 44 Senate Republicans pledged to block any nomination until changes are made to the CFPB’s governance and structure.

Brown was one of three Republican Senators who did not commit to that pledge.

“The senator supports the Cordray nomination and believes it deserves an up or down vote on the Senate floor,” John Donnelly, Brown’s spokesman, said in a statement on Monday, according to AmericanBanker.com.

Cordray is the former attorney general of Ohio. His nomination was approved by the Senate Banking Committee in Oct.

Warren has expressed her support for Cordray. She is a long-time consumer advocate and is touting her work with the CFPB during her Senate campaign against Brown.

A UMass-Herald poll currently shows Brown ahead of Warren among independents, according to CBSNews.com.

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