How Long Will Mulvaney (gulp!) Lead the CFPB?

by Jeff Sovern

According to Politico, here's what Mulvaney himself said about it:

POLITICO’s Katy O'Donnell: “The Consumer Financial Protection Bureau is planning for the likelihood that acting Director Mick Mulvaney will remain in place through the end of the year, Mulvaney said today at a banking industry conference.

“‘If it takes a year and a half to confirm [a permanent director], then I'm stuck there for a year and a half. So we don't know how long that's going to take,’ Mulvaney said. ‘I tell folks that the way the Senate is working we're just sort of assuming that I'll be there for the rest of this calendar year — that's just how we've planned. ‘It could be dramatically longer than that; it could be shorter than that,’ he added.” 

As for how long Mulvaney is permitted to serve (assuming the English case either remains undecided or results in an affirmance), according to Alan Kaplinsky at Consumer Finance Monitor, 210 days (which expires June 22 or 23) unless the president nominates a new director by that date. If the president does nominate a new director, Mulvaney can serve until the Senate acts on that nominee. If the Senate rejects the nominee, Mulvaney will get even more time.

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