Mick Mulvaney is the properly appointed interim director of the CFPB, CUNA argued in a brief filed Tuesday in a suit challenging the director’s appointment.
“CUNA and its members have a strong interest in ensuring that the CFPB at all times operates under proper direction of the official who is statutorily and constitutionally entitled to act as its Director,” the trade group said in its brief.
When CFPB Director Richard Cordray resigned, he designated Leandra English, his chief-of-staff, as deputy director. Agency supporters argued that under Dodd-Frank, she would be interim director until a permanent replacement was named and confirmed by the Senate.
However, President Trump asserted he has the power to appoint an interim director and designated Mulvaney, director of the Office of Management and Budget.
English has sued challenging the Trump appointment and CUNA’s brief was filed in that case.
In its brief, CUNA argued that Trump properly appointed Mulvaney.
The Lower East Side People’s Federal Credit Union has filed suit in federal court in New York saying that English is the rightful director. The credit union does not belong to CUNA or NAFCU.
CUNA President/CEO Jim Nussle said it is essential that the case be decided quickly.
“Americans deserve better than the political theater playing out at the CFPB right now,” he said. “It is important to have a process in place which assures leadership of the CFPB has transparency. We disagree that a non-accountable individual leaving office has Presidential appointment powers with no checks and balances in place.”
Nussle said the debacle demonstrates that the CFPB should be governed by a commission rather than a single director.
