Cordray Nominated to Direct CFPB; Metsger’s NCUA Nomination Scheduled for Committee Discussion Thursday

The U.S. Senate voted 66 to 34 to confirm the nomination of Richard Cordray, as Director of the Consumer Financial Protection Bureau (CFPB). Cordray’s confirmation Tuesday evening ended nearly two years of partisan Senate gridlock. He served without Senate confirmation in the role since Elizabeth Warren left the bureau and became a U.S. Senator representing Massachusetts.

Meanwhile, the United State Senate Committee on Banking, Housing & Urban Affairs has rescheduled its Executive Session to consider the nomination of Oregonian Richard Metsger to the NCUA Board. The Committee had planned a closed-door meeting today to consider whether to recommend Metsger and other nominees to federal positions, but a spokeswoman said the meeting was rescheduled for Thursday.

If the Committee recommends confirmation of Metsger as expected, the full U.S. Senate will schedule a vote later this summer.

Metsger, a former Oregon State Senator, credit union board member and television news anchor, was nominated to the NCUA board by President Barack Obama in May, and appeared in an open hearing to answer members’ questions in June. Since that hearing, Metsger also responded to written questions.

During its meeting later this week, the Committee will also consider nominations of five other individuals to join federal agencies including:

  • Melvin Watt’s nomination to be Director of the Federal Housing Finance Agency
  • Dr. Jason Furman to be Chairman of the Council of Economic Advisers
  • Kara Stein to be a member of the Securities and Exchange Commission
  • Dr. Michael S. Piwowar to be a member of the Securities and Exchange Commission
  • Mary Jo White to be a member of the Securities and Exchange Commission

If confirmed, Metsger will fill the vacant position of former board member Gigi Hyland, who served on the NCUA board from 2005 until late in 2012. Hyland will assume the role of executive director of the National Credit Union Foundation in August.

 

Questions? Contact Lynn Heider: 503.350.2225, lheider@nwcua.org.

Posted in Federal, MAXX Annual Convention, NCUA, NWCUA.