Democratic Senator Elizabeth Warren of Massachusetts has been highly critical of the appointment of Mick Mulvaney to the position of acting director for the Consumer Financial Protection Bureau. Warren cites this development as further proof that United States President Donald Trump cares more about the fate of big banks than he does for the welfare of working families in America.
Senator Warren was instrumental to the inception of the CFPB and in an interview first given to the Washington Post and later recounted during a report by the Huffington Post, Warren spoke her mind about the fight for leadership of the Bureau.
The battle over CFPB leadership is fueled by the sudden departure of former director Richard Cordray. Cordray chose deputy Leandra English to succeed him in the interim.
The interim turned out to be short-lived however as Trump’s appointment of Mulvaney came seemingly just moments after English was named acting director. English filed a lawsuit in federal court in response to the president’s appointment of Mulvaney and Monday morning both English and Mulvaney showed up for their first day of work as director of the bureau.
Richard Cordray has chimed in on the matter, explaining that English is the lawful director of the CFPB based on his ‘understanding of the law.’
The White House has countered Cordray with the assertion that it is totally within the rights of the president to appoint an interim director.
The main concern of Warren in regards to Mulvaney is that Trump’s appointed director has spoken in the past about dismantling the CFPB which was started in response to the financial crisis of 2008 and is designed to protect consumers from similar crisis.
Elizabeth Warren had planned to meet with English late Monday to discuss the direction of CFPB as well as English’s role as director.