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By Tammy Bruce
Topic - Richard Cordray
Despite backing the board and its new chief, even Democrats are expressing concern over an early ruling from the Consumer Financial Protection Bureau warning auto dealers that offering to strike deals on car loan interest rates could be discriminatory.
The Legislative District 26 Republican Party in Arizona has spoken, and they're not happy with Sen. John McCain. The group issued a sharp and formal written rebuke of their senator, calling his work across party lines — particularly with Democratic Sen. Majority Leader Harry Reid — destructive to GOP party principles.
Senate Majority Leader Harry Reid, sounding like a whining kid on a playground who can't get his way, says "the Senate is broken and needs to be fixed."
President Obama said Wednesday that the official swearing-in of Richard Cordray as director of the fledgling Consumer Financial Protection Bureau will guard against "a few bad apples in the financial sector" ripping off middle-class consumers.
The "nuclear option" has been defused — for now — after Republican senators said Tuesday they would drop their blockade of Richard Cordray to be the new head of a consumer protection bureau, ending for now what had appeared to be a major crisis over the filibuster and minority rights in the Senate.
Bowing to an ultimatum, Senate Republicans agreed Tuesday to drop objections to key Obama administration nominees, delivering a victory to Senate Democrats who said they will shelve — for now — their own plans to change the rules and curtail filibusters.
The Senate on Monday unanimously confirmed President Obama's appointment of Mary Jo White to lead the Securities and Exchange Commission, even as Republicans continue to reject Richard Cordray, who was nominated at the same time to head another financial watchdog agency.
The government not only has a right to regulate the American people, but regulation is really the key to the country's success, Democratic Sen. Elizabeth Warren said on Thursday.
Senate Republicans used the confirmation hearing for the head of President Obama's new Consumer Financial Protection Board to air their continued unhappiness with the agency's funding and what they said was its lack of accountability.
On Jan. 20, Barack Obama took the presidential Oath of Office, swearing once again to uphold and defend the Constitution.
President Obama on Saturday called for the Senate to move quickly and approve the two consumer-minded nominees he wants to help oversee two key federal regulatory agencies in his second term.
Bracing for tougher enforcement of rules governing Wall Street in President Obama's second term, several business groups warily welcomed the president's nomination Thursday of Mary Jo White, a former U.S. attorney for Manhattan who made her name prosecuting terrorists, to head the Securities and Exchange Commission.
Throughout his presidency, George W. Bush was castigated by congressional Democrats for his willingness to enlarge the executive power. Then-Sen. Russell D. Feingold of Wisconsin, for example, called him "King George Bush."
Federal regulators for the first time are laying out rules aimed at ensuring that mortgage borrowers can afford to repay the loans they take out.
In the wake of the national housing collapse that helped bring on the Great Recession, federal regulators for the first time are laying out rules aimed at ensuring that borrowers can afford to pay their mortgages.
Attorney generals in California, Massachusetts, Colorado, New York, and Illinois also are pursuing action against various for-profit institutions, Richard Cordray, director of the bureau, told reporters on a conference call Wednesday.
"Now, people may have their issues with 'state of the art,' but we're not embarking on some novel or untested or brand new approach here."