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Consumer Financial Protection Bureau Official Sues over Agency Showdown

HeadlineNov 27, 2017

In Washington, D.C., there’s chaos at the Consumer Financial Protection Bureau, as two people are battling for control of the consumer protection agency, which was created in the wake of the 2008 financial crisis. After announcing his resignation earlier in the month, on Friday, former Director Richard Cordray resigned and appointed his former chief of staff, Leandra English, to be his successor. But President Trump intervened, unexpectedly announcing he planned to appoint his budget director, Mick Mulvaney, to head the agency. While serving as a South Carolina congressmember, Mulvaney voted to eliminate the agency entirely. Leandra English has sued President Donald Trump over his appointment of Mulvaney. The 2010 Dodd-Frank Act that created the agency specifically calls for the deputy director to become acting director when the agency’s top spot is vacant. We’ll have more on the battle at the Consumer Financial Protection Bureau later in the broadcast.

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