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
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