Republicans Target CFPB, Call Nomination ‘Dead on Arrival’
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U.S. Republican lawmakers are stepping up efforts to restructure the Consumer Financial Protection Bureau, with a key senator declaring a nomination for the agency’s top job “dead on arrival.”
House and Senate members pressed President Barack Obama today to revise the leadership and oversight of the bureau, which he touted as a top achievement of the Dodd-Frank Act. The Republican-led House is set to pass legislation restricting the bureau’s powers, and senators have threatened to block action on Obama’s director nominee until changes are made.