Trump pick to lead CFPB faces Senate confirmation hearing

[0:00] Cruz. I want to thank each nominee for their willingness to serve our country [0:04] and for appearing before this committee. At our hearing, we heard about their [0:09] experience, their judgment, their commitment to the American people. [0:12] President Trump was elected to bring down costs, restore accountability, and put [0:17] common sense back at the center of government. To do that, he needs [0:22] qualified leaders in place. Dr. Phelan understands that economic policy is not [0:28] an academic exercise. It affects jobs, wages, investment, growth, and whether [0:34] families in South Carolina and around the country will have a fair shot at [0:39] opportunity. Mr. Cruz understands the importance of a safe, sound, and [0:43] competitive credit union system. Credit unions help families, workers, and small [0:48] businesses save, borrow, grow, and handle the unexpected costs that life throws [0:54] their way. They should be judged on their qualifications, experience, and commitment [1:00] to serving the American people. I urge my colleagues to support these qualified [1:05] nominees, and I look forward to moving them forward. Senator Warren. [1:11] Senator Warren. Thank you, Mr. Chairman. And before I get into my opening, I want to [1:16] raise a concern that you and I had a chance to discuss last night. We have both [1:21] been briefed on the FBI background investigations for the nominees that we [1:26] are scheduled to vote on this morning. And I appreciate your always talking these [1:31] issues through, even sometimes very late at night. I'm not going to get into the [1:36] details, given the limitations and the rules on what can be discussed in public [1:43] session. But the briefing left me with some significant questions that have not yet [1:49] been answered. We should put off this markup until we have confidence that the FBI has run [1:56] down all the answers. All of our colleagues on this committee, Democrats [2:01] and Republicans, have a right to be fully up to speed, fully informed on these issues [2:08] before being asked to vote for or against nominees. We have a job to do here. The [2:15] Constitution gives us the power of advice and consent. Because we are limited in what we [2:21] can say publicly, Mr. Chairman, I move that we go to closed session. [2:26] Is there a second? There's a second. At this time, we'll ask the room to be cleared. So this will be a vote on her. [20:00] Yes. Okay. So now it's time, just for clarity's sake, watching CCM's face over there, she's like, what? [20:08] For clarity's sake, we are now back in open session. We are now going to have a vote to go back in the closed session to discuss the underlying issue. [20:19] Mr. Chairman? No. Mr. Crapo? Wait, no. No. Mr. Rounds? Mr. Tillis? [20:44] Mr. Kennedy? Yes. Mr. Haggerty? Mr. Lemus? Mr. Britt? Mr. Ricketts? Mr. Banks? Mr. Kramer? [21:20] Mr. Moreno? Mr. McCormick? Mr. Warren? Mr. Reed? Yes. Mr. Warner? Mr. Van Hollen? [21:41] Mr. Cortez Masto? Yes. Ms. Smith? Yes. Mr. Warnock? Yes. Mr. Kim? Yes. Mr. Gallego? Yes. [21:57] Mr. Plump Rochester? Yes. Mr. Ulster Brooks? Yes. Mr. Rounds? Yes. [22:12] I'm not present. Point of clarification before you call the vote. My understanding is in order to have a prevailing vote, you must be present. The majority has to be present. You can't win a vote by proxy. [22:42] That holds for matters voted out of committee, which is nominees or legislation, but not internally. [22:48] Not internally? Thank you. Mr. Chairman, just a classic point of order. This was a decision that was made five minutes ago. I'm just curious how all these proxies came in. [22:59] I have a proxy of my members. [23:01] So they knew there was going to be a vote? My members have given me their proxies for what happens this week. [23:07] For anything? I'm just asking a point of order. I have specific proxies. Thank you. [23:13] Okay. Have they been shared with the clerk? The vote? Have they been? They have been shared with the clerk? [23:23] Yes. The proxies? Yes. Good job. The vote is 12 ayes and 10 ayes. [23:29] We will go back into an executive session, closed session. So unfortunately, we'll see you in a few minutes and talk. [23:40] So I'm going to go down and make my notes. [23:41] Yep. [23:41] So I'm going to go down and make my notes. [23:42] Yep. [23:42] So I'm going to go down and make my notes. [23:43] Yep. [23:44] So I'm going to go down and make my notes. [23:45] Yep. [23:46] So I'm going to go down and make my notes. [23:47] Yep. [23:48] So I'm going to go down and make my notes. [23:49] Yep. [23:50] So I'm going to go down and make my notes. [23:51] Yep. [23:52] So I'm going to go down and make my notes. [23:53] Yep. [23:54] So I'm going to go down and make my notes. [23:55] Yep. [23:56] So I'm going to go down and make my notes. [23:57] Yep. [23:58] So I'm going to go down and make my notes. [23:59] Yep. [24:00] So I'm going to go down and make my notes.