Trump is said to consider naming Mulvaney to lead Consumer Financial Protection Bureau
WASHINGTON _ Mick Mulvaney once called the Consumer Financial Protection Bureau "a sad, sick joke." Now, he may get to oversee Elizabeth Warren's favorite regulator.
Mulvaney, President Donald Trump's Office of Management and Budget director, is being considered for a temporary role as interim director of the consumer watchdog after Richard Cordray steps down later this month, according to two people familiar with the matter. Mulvaney would be expected to name someone else or a team of people to run the CFPB on a day-to-day-basis so he could keep his focus on OMB, said one of the people.
The goal is to hit the ground running in overhauling an agency that some Republicans have called corrupt, and that GOP lawmakers widely blame for burdening lenders with unnecessary red tape. It could be months before Trump nominates a permanent CFPB director and his selection is confirmed by the Senate.
Under a federal vacancies law, Trump can replace an outgoing director temporarily with someone from another agency who has already won Senate approval. Treasury Secretary Steven Mnuchin has also been considered to run the CFPB on a temporary basis, said one of the people who asked not to be named because the deliberations are private.
A call to OMB's press office wasn't immediately returned.
_Bloomberg News
