Updates on CFPB Acting Director Power Struggle | Leandra English Seeks Appeal
After conflict in November regarding the successor of Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB), former Chief of Staff and claimant of the director position, Leandra English, seeks an appeal in what will be the issue’s third court appearance. Although judges have thus far ruled to allow Mick Mulvaney’s appointment as acting director, English shows no sign of giving up the fight.
According to Reuters, “Leandra English, the agency’s deputy director, is suing the Trump administration over who is the proper acting director. She is seeking a temporary restraining order barring the Trump administration from filling that job, and the case is pending before a U.S. district court in Washington.” While Bloomberg Law sources think there is little likelihood that the court decision will change, industry experts are concerned “whether and to what extent ongoing uncertainty raised by the case impacts the administration’s effort to revamp consumer protection regulation at the CFPB.”
The industry hangs in limbo with regards to the governing of the CFPB. Meanwhile Mortgage Professional America reports, “Mulvaney has already made changes at the CFPB. He has ordered a freeze on all new rules pending his review of agency policies.” Whether or not those changes will stay is up to the courts. Janus is following CFPB developments closely to keep you informed on industry effects. Check back soon for the latest.