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Mulvaney begins at CFPB with immediate freeze on regulations

28 November, 2017, 01:45 | Author: Hannah Francis
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There is some serious confusion-and a brewing legal battle-surrounding who will lead the Consumer Financial Protection Bureau (CFPB), a consumer watchdog group created after the Great Recession. The White House then named its own interim leader.

Mulvaney, who is also the White House budget director, said he would split his time between the two jobs - 3 days a week at each agency.

Prominent Democrats, who have fiercely defended the CFPB under former director Richard CordrayRichard Adams CordrayCFPB protects Americans from predatory loan sharks On small-dollar loans, federal agency peddles fiction Ohio Dems: CFPB head could run for governor if Trump fires him MORE, called Trump's appointment of Mulvaney an illegal attempt to destroy the agency from within.

First, it is hard to see how Deputy Director English obtains an injunction, as a court could reasonably have doubts about both her likelihood of success on the merits, and her claim of irreparable harm (since she may not have a cognizable legal interest in running the agency).

Why was there a vacancy at the Consumer Financial Protection Bureau?

Even the Justice Department's Office of Legal Counsel acknowledged, in its November 25 memo to White House Counsel Donald McGahn, that this language applies, conceding that "the resignation of the Director would satisfy the requirement of 'absence or unavailability.' Therefore, the statute would permit a properly appointed Deputy Director to serve as the Acting Director during a vacancy".

Sanders didn't say why English wasn't allowed to take over and added, "I'm not saying we have anything against her". However, the CFPB's chief counsel issued a memo to employees supporting the White House's nomination of Mulvaney.

Meanwhile, President Trump has been very public about his dislike for the CFPB - he tweeted this weekend that it was a "disaster" and said that "financial institutions have been devastated".

The White House and the outgoing Consumer Financial Protections Bureau director both named a new acting director of the agency on Friday.

The president's pick for temporary appointee, Mick Mulvaney, had been widely anticipated. "We will bring it back to life!"

The Justice Department's Office of Legal Counsel had already approved Trump's appointment of Mulvaney, administration officials said.

Rather than waiting for the courts to decide which interpretation of the rule is correct, however, both English and Mulvaney have gone on the offensive, with the former filing a lawsuit on Sunday evening to prevent Trump from appointing his pick to the agency's lead role, citing the Dodd-Frank provision in its arguments. While the Dodd-Frank rule stands, assistant attorney general Steven Engel argued in an eight-page opinion on Sunday, it "does not displace the president's authority under the Vacancies Reform Act", instead giving Trump authority to "override an agency's designated succession path" as he sees fit. "I will be here until the court or the president tells me otherwise". In his announcement Friday, Cordray highlighted English's "in-depth" knowledge of the agency's operations and its staff.

"Whether that is a good thing or not is a different calculation", she said. The agency created a financial consumer database where people can research loan companies, and says it has handled more than 1.2 million complaints from consumers.

"He was also the original co-sponsor of a bill to completely eliminate the Consumer Bureau", she wrote, "and supported other legislation to harmfully roll back Wall Street reform".



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