Removing Barriers Blog

CFPB Director Update: Judge Confirms Mulvaney is Acting Director
Posted November 28,2017 by CUNA Advocacy

This afternoon, a U.S. District Court Judge threw out a request for a restraining order that would have blocked OMB Director Mulvaney from assuming the leadership position at the CFPB. 

The suit was brought by Leandra English, who was named deputy of director by outgoing Director Richard Cordray on Friday after David Silberman served in that role as acting director for nearly two years. Trump simultaneously named Mulvaney interim acting director Friday. 

“CUNA has long pushed for a bipartisan commission to lead the CFPB, and the questions we’ve seen raised over the last few days only reinforce that need,” said CUNA Chief Advocacy Officer Ryan Donovan. “In the meantime, the president has appointed Mick Mulvaney acting director of the CFPB, who we have already reached out to, and we look forward to working with the bureau going forward on ways it can bring much needed regulatory relief to credit unions.” 

In light of today's ruling the restraining order was denied and Mulvaney is considered the director. CUNA wrote to Director Mulvaney Monday with a list of concerns credit unions have with the CFPB, and suggestions to help achieve regulatory relief. One such suggestion, a freeze on rulemaking, was announced by Mulvaney Monday evening

CUNA will continue to advocate for a multi-member commission, rather than the lone director, at the CFPB to ensure there is stability in the regulatory environment. We will also continue to follow any other potential litigation surrounding leadership at the CFPB.