When the acting director of the Consumer Financial Protection Bureau announced plans to bring aboard political appointees, many viewed it as antithetical to an independent regulator. But technically there is nothing stopping him.
Ally has a lot of digital competitors, so Diane Morais is banking on customer centricity; Heather Cox plans to “levelize” the business and technology team at USAA; and outgoing Fed Chair Janet Yellen has achieved rock star status.
The 2010 law does very little to constrain regulatory power, explaining why Republicans pushed for reforms during the Obama presidency and why, under President Trump, Democrats are so vigorously opposing agency management changes.
Past statements by Office of Management and Budget Director Mick Mulvaney about the Consumer Financial Protection Bureau should disqualify him from leading the agency, according to New York Attorney General Eric T. Schneiderman and 16 other state AGs.
Over 30 current and former Democratic lawmakers filed a new amicus brief Monday supporting Consumer Financial Protection Bureau Deputy Director Leandra English to be reinstated as acting director of the agency.
For the second week in a row, the CFPB's leadership shakeout dominated readers' attention, while a regional banker discussed efforts to fight hacking and the impact of the tax cuts, and bitcoin's price soared.