Showdown at the Consumer Finance Protection Bureau

U.S. Consumer Watchdog Official Is Suing to Block Trump's Pick From Leading the AgencyMore

The White House has moved to justify Mulvaney's appointment by releasing legal memos that supposedly prove that only the president has the power to appoint the agency's acting director. Under the 2010 Dodd-Frank law, which authorized the agency in the first place, the deputy director becomes the acting director in the case of a vacancy. The White House then named its own interim leader.

When former CFPB Director Richard Cordray resigned Friday, he named his chief of staff Leandra English to serve as acting director of the agency.

English sued Trump and Mulvaney in federal court on Sunday night to block Mulvaney from taking acting directorship of the CFPB.

That same day, Trump appointed his own acting director, Mulvaney - the current Office of Management and Budget (OMB) director.

With the Trump administration focusing on rolling back or streamlining governmental regulations across the board, the CFPB has been held up as a prime example of overregulation by people such as Mulvaney himself, who called the CFPB "a wonderful example of how a bureaucracy will function if it has no accountability to anybody" in a 2014 interview with the Credit Union Times.

As many of you know, the CFPB is engulfed in a batshit power struggle after Richard Cordray ran away to join the OH political circus, giving The Trump White House a clear shot at doing its favorite thing: passively strangling a government agency to death by appointing an anathematic person to run it. The White House responded forcefully by saying Mulvaney, now director of the Office of Management and Budget, would be the one in control until Trump decided on a permanent successor, whose confirmation could take months.

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In Mr Mulvaney's message to staff, he wrote: "It has come to my attention that Ms English has reached out to many of you this morning via email in an attempt to exercise certain duties of the Acting Director".

On Monday, the Consumer Financial Protection Bureau (CFPB) found itself in the middle of a weird back and forth between Acting Director Leandra English - handpicked by outgoing chief Richard Cordray - and President Trump's chosen CFPB successor, Mick Mulvaney, who arrived at the agency carrying what appeared to be boxes of Dunkin' Donuts, presumably for his new "staffers". The spark? Two bureaucrats vying for control of the Consumer Financial Protection Bureau.

Asked by reporters want Trump wants him to accomplish, Mulvaney said the president wants him to "fix it". CFPB also has broad regulatory authority over financial institutions with assets over $10 billion. "I will follow the law", he said.

"I advise all bureau personnel to act consistently with the understanding that Director Mulvaney is the acting director of the CFPB", McLeod wrote. "I will be here until the court or the president tells me otherwise". Directed by Trump, whose businesses, in an effort to make a buck, have run afoul of the law time and again, Mulvaney said he was set to "bring this business attitude towards the way we run the government". Instead, they created different rules of succession for the CFPB, in which the deputy director is entitled to the acting director job automatically.

"Leandra is a seasoned professional who has spent her career of public service focused on promoting smooth and efficient operations", Cordray said in the statement. "This is unfortunate but, in the atmosphere of the day, probably not unexpected", he said.

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