Update: Robert Cordray has been confirmed by a 66 to 34 vote.

The Senate on Tuesday overcame a key procedural hurdle on Richard Cordray's nomination to become the new director of the Consumer Financial Protection Bureau.

The vote effectively ends a two-year long process during which Republicans blocked Cordray's nomination over disagreements about the bureau's setup.

The vote was 71-29 to move forward with Cordray's nomination, with 17 Republicans joining all 54 Democrats and independents in voting 'aye.' Cordray is expected to be officially confirmed Tuesday afternoon.