Durbin Statement on the Filibuster of Richard Cordray's Nomination to Head the Consumer Financial Protection Bureau

[WASHINGTON, D.C.] – U.S. Senator Dick Durbin (D-IL) released the following statement today after the nomination of Richard Cordray to head the Consumer Financial Protection Bureau was blocked by filibuster:


“Richard Cordray is competent, qualified, and an honorable public servant and his nomination to head the Consumer Financial Protection Bureau deserved an up-or-down vote. Unbelievably, the big banks and their backers in Congress have done all they can to hamstring this bureau and prevent it from having the tools and leadership necessary to be an effective consumer watchdog.”


“Just three years after the start of a recession that saw consumers lose $17 trillion in household wealth and retirement savings, a minority of Senators have voted to protect the status quo rather than reform the rules to put consumers’ interests first.”


“I hope we’ll be given another chance to confirm Richard Cordray to this important post, and if not, the Administration needs to do all that’s necessary to ensure that CFPB has the strong leadership it needs to protect consumers.”