Opposition from top Senate Democrats on Thursday stalled two of President Barack Obama's picks for the Securities and Exchange Commission over whether the nominees support requiring publicly traded corporations to disclose political spending.
Nominees Lisa Fairfax, a Democrat, and Hester Peirce, a Republican, had waffled on the issue. Sens. Chuck Schumer, D-N.Y., and Elizabeth Warren, D-Mass., were among four members of the Senate Banking, Housing and Urban Affairs Committee opposing Obama's choices. That led the chairman, Sen. Richard Shelby, R-Ala., to postpone a vote set for Thursday...
...The opposition from Obama allies to Fairfax, the Democrat, was particularly unusual. Peirce, a conservative lawyer, was recommended by Republicans. Shelby planned to advance them together but held off after Schumer, Warren and Sens. Jeff Merkley, D-Ore., and Robert Menendez, D-N.J., spoke out.
The Democratic opposition comes as the Banking panel has finally started acting on nominations after more than a year of sitting on them under Shelby's leadership.