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.
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.
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.
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 now unclear who is legally entitled to the job, and both appear likely to show up Monday to claim the mantle.
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 memo to workers advising them to disregard any orders from the agency bureaucrat who’s separately asserted that she’s the boss.
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 down on Friday.
WASHINGTON—A standoff between the Trump administration and Obama-era officials over who gets to temporarily run the Consumer Financial Protection Bureau intensified Saturday, with President Donald Trump saying on Twitter that the agency was “a total disaster as run by the previous Administrations pick.”
A high-stakes legal clash is unfolding over President Donald Trump’s temporary pick to run Elizabeth Warren’s favorite bank regulator, and the White House is holding its ground.
Trump on Friday said he’s naming White House budget director Mick Mulvaney to be the temporary head of the Consumer Financial Protection Bureau. The announcement came hours after outgoing CFPB Director Richard Cordray said he was tapping a deputy to run the agency on an acting basis, a move widely seen as an attempt to prevent the White House from naming a successor.