Today, obstructionists in the Senate blocked an up-or-down vote on the nomination of Richard Cordray to head the Consumer Financial Protection Bureau (CFPB). Fifty-three senators voted for Cordray, while 45—all Republicans—voted against ending debate on his nomination. Massachusetts Sen. Scott Brown (R) voted for Cordray, and Maine Sen. Olympia Snowe (R) voted present.

The new agency, which was created by the Wall Street Transparency and
Accountability Act, is limited in its powers and cannot fully protect
consumers—until a director is confirmed. Which is exactly why 44 Republican senators have no intention of letting any director be confirmed. In May, they signed a letter to President Obama threatening to block any nomination to head the agency.

The 44 GOP senators who would not allow an up-or-down vote on Richard Cordray’s nomination have received millions from Wall Street this year. And they are shameless in admitting their goal is to force “structural changes” that prevent the bureau from doing its job: protecting consumers from Wall Street abuses. This shows just how much Wall Street greed dominates in Washington these days—particularly within the GOP.

Said AFL-CIO President Richard Trumka:

Undermining the new era of Wall Street accountability is exactly what Senate Republicans intended by today’s filibuster of the nomination of Richard Cordray to head the Consumer Financial Protection Bureau. The vote had nothing to do with his outstanding qualifications, but with the very idea of anyone enforcing the law of the land to protect America’s families.

Working families have not forgotten that deceptive and abusive business practices were fundamental causes of the financial crisis. Consumers deserve a strong and fearless advocate that will be a powerful and independent voice for them.