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techkenyot.com November 20, 2018


Credit union sues to block Mulvaney from leading CFPB

07 December 2017, 05:20 | Glen Norman

Credit union sues to block Mulvaney from leading CFPB

Credit union sues to block Mulvaney from leading CFPB

President Trump's handling of the Consumer Financial Protection Bureau has thrown financial institutions across the country "into a state of regulatory chaos", a new lawsuit alleges.

Attorneys for Leandra English, the deputy director of the U.S. Consumer Financial Protection Bureau (CFPB), on Wednesday filed fresh paperwork challenging President Donald Trump and his pick to lead the consumer watchdog. "The law requires Leandra English to be CFPB's Acting Director".

A Mulvaney spokesman did not immediately respond to a request for comment.

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"We support the CFPB as a protector of our low-income members' financial rights, and fear that the appointment of an acting director beholden to the White House could result in upheaval and ultimate dissolution of this critical agency", said LESPFCU CEO Linda Levy, in a press release.

For her part, English claims she is the rightful acting director and is now seeking legal options after a judge declined her request to prevent Mulvaney from taking over as acting director.

Placing a freeze on the CFPB's collection of any personally identifiable information, such as individual loan level data, until the CFPB improves its data security systems.

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English last week lost a bid for an emergency court order unseating Mulvaney as acting director while she pursued a judge's ruling declaring her head of the agency until a presidential nominee is confirmed by the Senate.

"Then I'm going to get down to the weeds of something I enjoy which is the budget, and how the agency.is funded, how it's structured, personnel, those types of things", he added.

English is expected to formally file a preliminary injunction against Mulvaney and Trump this week, according to court filings.

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