The Senate has voted to end a two-year Republican blockade that was preventing Richard Cordray from winning confirmation as director of the Consumer Financial Protection Bureau.
Tuesday’s 71–29 vote came minutes after Senate Majority Leader Harry Reid announced that he and GOP leaders were working toward a deal aimed at freeing up seven stalled appointments President Barack Obama has made to the consumer agency, the National Labor Relations Board, and other agencies.
Obama had used a recess appointment to put Cordray in charge of the agency, an appointment that expires in January. Republicans had solidly opposed Cordray’s nomination, demanding that Obama first agree to change the agency’s financing and structure.
The consumer bureau was created by the 2010 law that overhauled federal financial regulatory powers following the Great Recession.
A tentative U.S. Senate deal has been reached to have President Barack Obama withdraw two of his embattled nominees to the National Labor Relations Board and offer a pair of new ones that organized labor helps pick, congressional sources said on Tuesday.
Under the agreement, several of seven stalled nominees would win confirmation later in the week, including Labor Secretary-designate Tom Perez; Gina McCarthy, named to lead the Environmental Protection Agency, and Fred Hochberg to head of the Export-Import Bank.