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Ohio's Sen. Portman says a compromise could be close on Cordray appointment
Portman insists now is not the time for Democrats to fiddle with filibuster rules

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M.L. Schultze
Ohio's Republican Sen. Portman says he's been working with the White House on a compromise.
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Senate Democrats are trying to find another way to ensure that former Ohio Attorney General Richard Cordray is permanently named as head of the Consumer Financial Protection Bureau. Meanwhile, a key Republican senator says a compromise could be close. WKSU’s M.L. Schultze has more.

LISTEN: Portman says a Cordray compromise could be coming

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The New York Times says Majority Leader Harry Reid and other Democrats are ready to try to change filibuster rules that GOP senators have been using the block a vote on the nominations of Richard Cordray and other appointments by President Obama.

But Rob Portman, Ohio’s GOP senator, says the timing couldn’t be worse.

Portman is among the Republicans who have blocked Cordray’s nomination -- not because they object to Cordray but because they object to the structure of the Financial Protection Bureau itself.

That’s stalled Cordray’s nomination for going on two years. But this week, Portman indicated there may be a work around.  

“It would be totally inappropriate to have another vote on Cordray right now because we are working with the White House, working with Democrats and Republicans in the Senate, working with the Treasury Department, to try to figure out a way to come up with a compromise so that Rich Cordray could be properly confirmed.”

Portman says he Republicans are pushing for reasonable compromises such as having an inspector general to watch over the agency, which he and other Republicans say has too much power.

Cordray was temporarily appointed to head the agency last year through a recess appointment process that Republicans have challenged in court.


Listener Comments:

Obama's Consumer Financial Protection Bureau has put unreasonable demands on banks, - yes, they have too much power. They worry about private banks, but their babies Fannie and Freddie get special privilege. The CFPB is a lie, just like Obamacare.
Thank God Portman is not a progressive - some reps. do show compassion, we should know what Portman is doing, because there are not enough reps. actually serving their constituents. opencongress org is a good site that is easy to use, and will answer about any political question.
Not all politicians are crooks - the Republicans seem to have forgotten this during the presidential election - as a result we will see more progression to serfdom.

Posted by: protection from what on July 17, 2013 4:07AM
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