Republicans block Obama's consumer nominee

WASHINGTON (Reuters) - Senate Republicans on Thursday beat back Democratic President Barack Obama''s pick to head the new Consumer Financial Protection Bureau, and each party accused the other of holding consumers hostage to politics. Democrats were able to muster only 53 of the 60 votes needed to advance to an up-or-down vote on the nomination of former Ohio Attorney General Richard Cordray. One Republican, Scott Brown of Massachusetts, sided with the Democrats in the 53-45 vote. Republicans are promising to block Cordray until changes are made to how the new agency operates. ...