Cordray will be introduced by Sen. Sherrod Brown, D-Ohio.
Cordray, the former Ohio Attorney General, was re-nominated in January as director of the Consumer Financial Protection Bureau, an agency created by the Dodd-Frank law of 2010, after serving at the agency for a year. Obama used a recess appointment to appoint him last year after Republicans blocked his nomination.
So far, there’s little sign that Republicans have dropped their opposition. Earlier this year, 43 Republicans sent a letter to Obama vowing to block Cordray’s nomination unless the Obama administration modifies the bureau’s powers. Republicans specifically would like for the bureau to be governed by a five-person board rather than a director, and they would like for Congress to be able to approve the bureau’s annual budget.
Sen. Rob Portman, R-Ohio, did not sign the GOP letter but instead, in a separate letter to Cordray, urged him “to stake out a reasonable position” on the Senate Republican requests.
“Now is the time to… lend your support to common-sense reforms to make the bureau more effective and accountable to the American people, so that the Senate can find a path forward on your nomination,” he wrote.