The CFPB Controversy: Who Is Mick Mulvaney?

Both sides are looking at federal statutes that allegedly make them the real director

By Karl Utermohlen, InvestorPlace Writer

http://bit.ly/2n9HXwh

The Consumer Financial Protection Bureau (CFPB) is in a bit of a conundrum right now as it is unclear who is the new director of the agency at the moment.

CFPB
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Republican congressman Mick Mulvaney arrived at the agency, claiming he is the rightful head of the CFPB as President Trump named him, the Office of Management and Budget director, as the director. However, previous boss Richard Cordray named Leandra English, his chief of staff, as the director.

Trump’s announcement came only hours after English was appointed to the role, and many are shocked at the choice as Mulvaney has long-criticized the CFPB, calling it a “joke” in a past statement, as well as saying he wished the agency didn’t exist.

Both Mulvaney and English are making their case by pointing to the fine print in different federal statues that supposedly make one of them the rightful director. English filed a lawsuit late on Sunday, requesting a temporary restraining order to stop President Trump from appointing Mulvaney acting director.

The case will be overseen by U.S. District Judge Timothy Kelly, who is one of the two newly confirmed Trump appointees on D.C. court. English wrote a message to the 1,600 employees of the CFPB with the following statement:

“I hope that everyone had a great Thanksgiving,” she wrote. “With Thanksgiving in mind, I wanted to take a moment to share my gratitude to all of you for your service.” She ended the note with the claimed title: “Acting Director.”


Article printed from InvestorPlace Media, https://investorplace.com/2017/11/cfpb-mick-mulvaney-english/.

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