Senate Republicans' vow not to confirm any permanent director for the Consumer Financial Protection Bureau unless changes are made to the agency's structure and funding is likely to push the Obama administration to make a recess appointment to the job.
In a joint letter to the president, 44 Senate Republicans — more than enough to maintain a filibuster of a nominee — said they would not support any candidate unless Congress enacted legislation that would replace the agency's director with a commission, subject the bureau to the appropriations process and allow banking regulators the power to override the CFPB.
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