Senate Blocks Obama Choice For Consumer Panel

Source: John H. Cushman / The New York Times

WASHINGTON — The Senate blocked President Obama’s nominee to head the Consumer Financial Protection Bureau, as filibustering Republicans who oppose the very powers of the new agency successfully challenged one of the administration’s main responses to the financial crisis.

The nomination of Richard Cordray was rejected after Democrats failed to achieve the 60 votes they needed to move his nomination forward. The vote was 55 yes, 45 no.

Senator Mitch McConnell of Kentucky, the Republican leader, said his party had made clear for months that it would not approve a leader for the watchdog consumer agency until the law that established it was amended.

Until three changes are made, he said, “We won’t support a nominee for this bureau — regardless of who the president is.”

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