WASHINGTON, July 18 Changes must be made to a
new consumer protection agency before the U.S. Senate can
consider confirming President Barack Obama's choice of Richard
Cordray to head it, Senate Republican leader Mitch McConnell
said on Monday.
"We'll insist on serious reforms to bring accountability
and transparency to the agency before we consider any nominee
to run it," McConnell said in a speech on the Senate floor.
The Consumer Financial Protection Bureau is scheduled to
begin operating this week and Obama has announced his choice of
Cordray to head the agency charged with protecting U.S.
consumers from abusive mortgage lending practices and hidden
credit card fees.
(Reporting by Richard Cowan, Editing by Sandra Maler)