Reply #8: The repubs want to turn the CFPB into a commission

[Mrs. Ted Nancy]

The amendment, which said the top job had to be filled by the person "credited with coming up with the idea" for the CFPB, failed on a party-line vote.

It was offered to a bill that would, among other things, turn the bureau into a commission with five members leading it. Subcommittee Chairwoman Shelley Moore Capito (R-W.Va.) argued that a commission offers greater stability in the leadership than a single boss.

"If they’re going to make it a commission, at least put someone in the chair’s seat who has been the vision behind it and can make it work," Maloney told The Huffington Post after the heated hearing.

The bill is H.R. 1121

http://www.huffingtonpost.com/2011/05/04/gop-blocks-elizabeth-warren-cfpb_n_857780.html

http://financialservices.house.gov/media/pdf/hr1121ai.pdf