Senate Republicans demand CFPB changes, promise to block nomination

Senate Republicans are again vowing to block any nominated director of the Consumer Financial Protection Bureau unless changes are made to “ensure the accountability and transparency of the bureau.” The demand from 43 senators came after a recent court ruling cast doubt on the validity of President Barack Obama’s 2012 recess appointment of current CFPB Director Richard Cordray. Lawmakers also proposed legislation that would freeze some CFPB funding until a director is confirmed by the Senate. Read on for the details.