CFPB Leadership Fight - From a Legal Standpoint Posted by Association of Vermont Credit Unions on 12:50 PM

Mick Mulvaney (left) & Leandra English (right)

As the heat turns up since last Friday between competing interim appointments to head the Consumer Financial Protection Bureau, Henry Meier, New York CU Association General Counsel, examines the legal issues and constitutionality of the conflicting leadership fight.   In the opening statement of his blog entry on the issue, Meier says "The attempt of the holdover leadership of the CFPB to extend its reign over the Bureau is the type of legal maneuver that lawyers love and that makes everyone else hate lawyers. At the end of the day, what the CFPB and its most zealous supporters will accomplish is nothing more than to underscore that the Bureau is an out of control Bureaucracy in desperate need of reform."

When outgoing CFPB Director Cordray announced his departure, he effectively designated Leandra English as his successor until his five-year term ends in July.  The White House responded with a statement naming former Congressman and current OMB Director Mick Mulvaney as Acting Director. English has already filed a lawsuit seeking to block Mulvaney from taking up this position.

Meier is pretty clear in his blog about who he believes has the authority to appoint the interim director of the CFPB. But you'll have to read his blog to find out who.