Senate Republicans successfully erected another roadblock toward the appointment of Richard Cordray—President Obama's nominee—as the director of the Consumer Financial Protection Bureau (CFPB). The Senate voted 53-45 this morning to reject the procedural motion to begin debate on Cordray's confirmation as director of the CFPB. Republicans needed just 41 votes to stop the debate.

Without a director in place, it will prevent the CFPB from supervising the non-bank entities that were faulted for triggering the financial crisis three years ago. Republicans have been saying for months now they will oppose Cordray's confirmation until key changes are made to the agency's structure.

Some of the changes sought by the Republicans include eliminating the director position and replacing it with an oversight board, and requiring the agency to get congressional approval of its budget instead of drawing funds directly from the Federal Reserve.