CBA in the News

Press Contact

Nick Simpson
nsimpson@consumerbankers.com
202-552-6371
  • November 28, 2017
    WASHINGTON — Two people are now claiming to be the rightful leader of the Consumer Financial Protection Bureau. CFPB Director Richard Cordray's final act to appoint his own interim successor before stepping down — Leandra English, the agency's chief of staff — came hours before the Trump administration named Office of Management and Budget Director Mick Mulvaney as the temporary director. It is...
  • November 28, 2017
    Employees at the Consumer Financial Protection Bureau are privately questioning why outgoing director Richard Cordray abruptly tapped a 34-year-old chief of staff with no enforcement, supervisory or legal experience to head the embattled agency after he resigned. Many were caught off guard when Cordray handed the reins to Leandra English by naming her deputy director as he stepped down on Friday...
  • November 28, 2017
    WASHINGTON (AP) — The battle between two supposed directors of the Consumer Financial Protection Bureau is making for compelling optics but only seems to be delaying a tidal shift at the powerful consumer watchdog. Mick Mulvaney, President Trump’s budget director and now his choice as acting director of CFPB, made a conspicuous effort Monday to show he was firmly in control of the bureau. Meeting...
  • November 28, 2017
    Financial institutions are seizing on the fiasco at the Consumer Financial Protection Bureau to highlight their continuing push for Congress to transform the CFPB’s structure from being led by a single director to a five-member commission. But even though a commission structure could help prevent a repeat of the current leadership tussle, Congress is unlikely to act, according to congressional...
  • November 28, 2017
    The Consumer Financial Protection Bureau’s (CFPB) mission is far too vast and far too important for a single director to play both judge and jury for nearly every financial decision Americans make. The bureau has grown to 1,700 employees with an annual budget of more than a half billion dollars. And some believe its director has the authority to unilaterally name an acting successor without a...
  • November 28, 2017
    WASHINGTON – A federal judge on Tuesday refused to block the appointment of Mick Mulvaney as interim director of the Consumer Financial Protection Bureau, siding with the Trump administration in the legal fight over the leadership of the consumer watchdog. "Denying the president's authority to appoint Mr. Mulvaney raises significant constitutional questions," U.S. District Judge Timothy Kelly...
  • November 27, 2017
    "If the CFPB was structured as a bipartisan commission, as originally intended, we would not have the circus we are having today," CBA’s President & CEO Richard Hunt tells CNN’s Richard Quest. Tune in for more.
  • November 27, 2017
    President Donald Trump is likely to control the Consumer Financial Protection Bureau for years to come. And Democrats have only themselves to blame. Trump budget director Mick Mulvaney and Leandra English, a legacy employee of the Obama presidency, faced off on Monday over which of them has the authority to lead the bureau amid dueling statutes after CFPB Director Richard Cordray abruptly stepped...
  • November 27, 2017
    On Monday morning, Mick Mulvaney, the Office of Management and Budget (OMB) director, and Leandra English, the newly appointed deputy director of the Consumer Financial Protection Bureau (CFPB), claimed to start their first day as head of the agency. Former CFPB Director Richard Cordray stepped down from the top post Nov. 24. While both Mulvaney and English sent emails to the staff signed “acting...
  • November 27, 2017
    If there’s a question mark over who’s in charge of the Consumer Financial Protection Bureau, Mick Mulvaney is having none of it. The White House budget director, who has called the financial watchdog the “worst kind” of government entity, showed up bright and early Monday with an olive branch for the CFPB’s bewildered staff: doughnuts. He then started pouring through briefing books and sent a...

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