May 11th, 2011
04:21 PM ET
Obama could get his way on consumer chief
By CNNMoney.com's Jennifer Liberto
WASHINGTON(CNNMoney.com) - A Senate Republican vow to block any nominee to lead the new Consumer Financial Protection Bureau gives President Obama no choice but to appoint a head of that agency during congressional recess, a top House Democrat said Wednesday.
Last week,44 Senate Republicans said they would not approve any nominee to run the Consumer Financial Protection Bureau without major changes that would weaken the power of the bureau and the bureau's chief.
So Republicans, with their filibuster-proof 44 votes, give the president no choice but to sidestep the nomination process, said Rep. Barney Frank of Massachusetts.
"The Republicans are the ones who have announced that (the president) has to do a recess appointment, or else gut the agency. That's their choice," Frank said.
The ranking member of the House Financial Services Committee called the Republican move "extortion" and told Republicans to "stop acting like thugs."
Republicans say that the president has had 10 months to make a nomination.
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