Submitted by Obewon
Rep. Mike Lee of Utah says he purposely stood in the way of confirming Richard Cordray to lead the new Consumer Financial Protection Bureau because he doesn’t want the agency to exist.
I have met Mr. Cordray, and my decision to oppose his confirmation by the Senate has nothing to do with his qualifications. Rather, I feel it is my duty to oppose his confirmation as part of my opposition to the creation of CFPB itself. [...] Confirming any director for this bureau would be tantamount to agreeing that we need a uniquely powerful super-agency that is not even designed to prevent a repeat of the financial crisis. Until the CFPB is reformed, I will not support it in any way.