I don’t envy anyone showing up for work this week at the Consumer Financial Protection Bureau (CFPB). There are two people claiming to be your boss. One of them is the person designated by law as the successor to the former director, and the other is someone who the White House has decided it wants to run the agency. How to decide?
One of the principal architects of the founding the agency, Elizabeth Warren, presents the case that the Dodd-Frank Act clearly specifies the terms of succession for the CFPB, and that with the departure of former Director Richard Cordray, the Deputy Director Leandra English, by law, assumes the position of Acting Director. The White House, in arguing that there’s a vacancy that needs to be filled, and using that opportunity to appoint current White House budget director Mick Mulvaney, is actually acting illegally. The Acting Director, English, has filed suit in the U.S. District Court of D.C asking for a temporary restraining order blocking Trump from appointing Mulvaney and affirming her position. But in the meanwhile, chaos?
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