The Trump administration insisted Saturday that OMB Director Mick Mulvaney was the rightful interim leader of the CFPB, but Democrats said that the appointment was illegal. It remains unclear who is legally in charge.
With leadership of the Consumer Financial Protection Bureau resolved by a federal court, the banking industry is eager to find out what interim head Mick Mulvaney plans to do once he gets a handle on the agency, including whether he will delay pending new mortgage rules.
President Trump has tapped Office of Management and Budget Director Mick Mulvaney as interim head of the CFPB. He has taken tough stances on the CFPB, its payday lending rule, housing finance reform and other issues pending before the agency.
How will Mick Mulvaney reshape the consumer watchdog agency? American Banker Editor-in-Chief Rob Blackwell shares his inside-the-Beltway take on the CFPB’s future.