Wednesday, January 4, 2012

Scott Brown Backs Obama Recess Appointment Of Consumer Finance Watchdog Richard Cordray

Scott Brown Backs Obama Recess Appointment Of Consumer Finance Watchdog Richard Cordray

WASHINGTON -- Bucking his party's leadership, Sen. Scott Brown (R-Mass.) Wednesday expressed his support for President Obama's decision to name Richard Cordray head of the Consumer Financial Protection Bureau in a recess appointment that evaded a Republican blockade of the nomination.

Senate Republicans had vowed to stop Cordray's appointment until Obama agreed to water down the authority of the new watchdog agency. To stop him from using the constitutional option of a recess appointment while the Senate was adjourned, they've been holding "pro forma" sessions where no business is done, but the chamber is technically working.

GOP leaders bitterly accused the president of arrogance and overreach. But Brown, facing a tough election challenge from the architect of the CFPB, Elizabeth Warren, decided that their actions were the bigger problem.

"I support President Obama's appointment today of Richard Cordray to head the CFPB," Brown said in a statement. "I believe he is the right person to lead the agency and help protect consumers from fraud and scams."

"While I would have strongly preferred that it go through the normal confirmation process, unfortunately the system is completely broken," Brown added. "If we're going to make progress as a nation, both parties in Washington need to work together to end the procedural gridlock and hyper-partisanship."

LP - He must be desperate about Warren's candidacy.

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