The Senate Banking Committee will vote on March 19 to decide whether Mary Jo White and Richard Cordray, President Obama’s nominees for the heads of the SEC and CFPB, respectively, will be appointed to the positions.
While both nominees are expected to be approved by the committee, Cordray will likely face significant opposition in the full U.S. Senate vote, according to Reuters.
Following confirmation hearings last week, Republican senators continued to block Cordray’s re-nomination to the position of director at the CFPB, a position he has held since 2011.
Sen. Elizabeth Warren (D-Mass.) called on Republicans to end the impasse, saying that “blocking Rich Cordray is about keeping the game rigged…so that consumers remain in the dark—and a few bad actors can rake in big profits,” LowCards.com reports.
Much of the Republican opposition centers around the structure of the agency, and many have vowed to continue their opposition to his nomination unless key changes are made, including the replacement of Cordray with a bipartisan, five-member commission and the placement of the agency’s budget under the congressional appropriations process.
White, however, is likely to see confirmation approved by the full U.S. Senate. She will replace outgoing SEC Chairman Elisse Walter, whose term is set to expire at the end of the year.