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Thread: Monday Morning

  1. #1
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    Monday Morning

    Should be some fireworks at the CFPB tomorrow.....

    Who Will Be Running Consumer Agency on Monday?

    Come Monday morning, who will be running the Consumer Financial Protection Bureau? Over the weekend, the answer wasn’t clear.

    Trump administration officials on Saturday defended the president’s legal authority to name his budget director, Mick Mulvaney, as the acting head of the bureau — an independent watchdog agency that
    has been an obstacle this year to President Trump’s efforts to eliminate or loosen many business regulations. Mr. Trump made the appointment late on Friday, after the abrupt resignation of Richard Cordray, the agency’s director.

    Mr. Trump’s announcement was intended to thwart a move by Mr. Cordray earlier in the day to elevate an official from inside the agency to take on temporary leadership of the bureau.

    Now, both sides say the law is in their favor, setting up a clash that may well end up in court.


    President Trump and his administration are working to roll back regulations on businesses. The consumer bureau has been a prominent holdout. When Congress created it six years ago, in the aftermath of the financial crisis, it gave the agency broad powers over a wide variety of financial products, including mortgages, credit cards, bank accounts and student loans.

    The consumer bureau is still carrying out the agenda it developed under President Barack Obama, issuing new rules — like a recent regulation intended to curtail sharply the payday lending market — and sanctioning financial companies for practices that it considers unfair or abusive. Nearly 30 million consumers have collected almost $12 billion in refunds and canceled debts because of the agency’s actions.

    But the bureau has long been vilified by Republicans as an overreaching, aggressive arm of government.


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    Quote Originally Posted by uncle junior View Post
    The consumer bureau is still carrying out the agenda it developed under President Barack Obama,
    Right there. The death knell for anything under Trump.
    If he can.
    Such a child.

  3. #3
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    The announcement the CFPB put out on Friday....


    WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today announced that Leandra English has been officially named deputy director of the agency. English, who had been most recently serving as the agency’s chief of staff, has previously held key leadership positions at the CFPB, the Office of Management and Budget, and the Office of Personnel Management. David Silberman, who had been serving as acting deputy director, will continue in his role as associate director of the Research, Markets, and Regulations division.

    “Leandra is a seasoned professional who has spent her career of public service focused on promoting smooth and efficient operations. As deputy director, we will continue to benefit from Leandra’s in-depth knowledge of the operational needs of this agency and its staff,” said CFPB Director Richard Cordray. “I would like to thank David Silberman for taking on the additional role of acting deputy director during a busy time and appreciate his continued service as associate director of Research, Markets, and Regulations.”

    Before taking on the role of deputy director of the CFPB, Leandra English had been serving as the agency’s chief of staff. Ms. English has served in number of senior leadership roles at the CFPB, including deputy chief operating officer, acting chief of staff, and deputy chief of staff.

    In addition to her work at the CFPB, Ms. English served as the principal deputy chief of staff at the Office of Personnel Management, chief of staff and senior advisor to the deputy director for management at the Office of Management and Budget, and as a member of the CFPB implementation team at the Department of the Treasury. Ms. English received her B.A. from New York University and her M.S. from the London School of Economics.

    https://www.consumerfinance.gov/abou...ection-bureau/
    Last edited by uncle junior; 26-11-2017 at 06:59 PM.

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    Another lawsuit for trump's admin......

    A federal judge must now decide which of the two people holding competing claims to temporarily run the U.S. Consumer Financial Protection Bureau has the actual authority to guide its oversight of American financial institutions.

    Leandra English, who was deputy to ex-director Richard Cordray, asked a federal judge in Washington on Sunday to declare her as the agency’s acting director and to block President Donald Trump from installing White House budget director Mick Mulvaney as interim chief.


    https://www.bloomberg.com/news/artic...ock-trump-pick

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