January 04, 2012
SPRINGFIELD, MO. – U.S. Senator Roy Blunt (Mo.) issued the following statement in response to recent reports that President Barack Obama intends to circumvent the U.S. Senate and proceed with a “recess appointment” of Richard Cordray to lead the new Consumer Financial Protection Bureau (CFPB). The U.S. Senate voted against Cordray’s appointment last month:
“President Obama’s latest power grab is unprecedented and raises serious constitutional questions. By using a recess appointment to circumvent Congress, the President is attempting to circumvent the U.S. Senate’s constitutional responsibilities in order to enact another unaccountable czar with unlimited power. Last month I joined my colleagues to vote against confirming Richard Cordray, and I continue to believe that we must address CFPB’s lack of transparency and accountability before approving this nominee.”
In April 2011, Blunt joined his colleagues to cosponsor a bill that would restructure the CFPB by replacing the director with a Senate-confirmed five-person commission and ensure the CFPB is subject to the same appropriations process as other federal agencies. To read the bill text, please click here.
In May 2011, Blunt joined 44 Senators in a letter to President Barack Obama expressing concerns about the bureau’s lack of transparency or accountability. To read the letter, please click here.