WASHINGTON, D.C. – Tonight, President Trump unlawfully attempted to name Mick Mulvaney to serve as Acting Director of the Consumer Financial Protection Bureau (CFPB). Mulvaney currently serves as Director of the Office of Management and Budget.
Center for Responsible Lending President Mike Calhoun issued the following statement:
The President must follow his authority written in the in Dodd-Frank law and nominate a candidate who can be confirmed by the U.S. Senate to serve as the director of the CFPB. Until that plan is followed, Leandra English is the rightful Acting Director of the Bureau. The Wall Street reform law, which passed in 2010, clearly states that if there's a CFPB Director vacancy, the Deputy Director becomes Acting Director. Naming Mick Mulvaney—someone who’s adamantly anti-consumer—rewards financial predators and fails to put consumers first. Polls have consistently shown that the public, across all party lines, want a strong CFPB to look after their interest, not the interest of abusive financial actors. The Center for Responsible Lending looks forward to working with Leandra as the current leader of the Bureau and urges the Administration to nominate a director to fill this important role."
For more information, or to arrange an interview with a CRL spokesperson on this issue, please contact Ricardo Quinto at email@example.com.