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Ohio's former AG Cordray gets a Senate Banking Committee vote
President Obama makes another attempt at his confirmation to head the Consumer Financial Protection Bureau

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M.L. Schultze
Richard Cordray before the U.S. Senate Banking Committee
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The Senate Banking Committee will vote today on the second attempt to get former Ohio Attorney General  Richard Cordray confirmed as head of the federal Consumer Financial Protection Bureau. But Republicans continue to raise big questions about the agency. WKSU’s M.L. Schultze reports

SCHULTZE: Cordray's next step

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Last week, the banking committee held a hearing that confirmed the status quo: Democrats think Richard Cordray would be an extremely qualified director of the newest federal agency. And Republicans think the same thing – except they say the agency itself is fatally flawed.

Those GOP concerns stalled Cordray’s nomination a year ago, so President Obama opted to make him a recess appointment. Now he wants to make it permanent.

And 54 Democratic senators have now sent the president a letter supporting Cordray. But none of the 43 Republicans who have problems with the agency have publicly changed their minds.

That’s despite Cordray’s appearance before the banking committee last week in which he assured Republicans he’s welcomes their scrutiny of the agency.

“I served in the Legislature in Ohio. I appreciate and understand the importance of congressional oversight. I think it is a meaningful check on our agency.”

And as the agency has gotten up to speed, he says, he’s in a better position to fill in more details.

Cordray was Ohio’s first solicitor general and a state representative as well as attorney general. His name has been widely circulated as a Democratic challenger to Ohio Gov. John Kasich.


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