English v. Mulvaney & Trump: Some Reasons Why It Matters

by Jeff Sovern A couple of people have suggested to me that it doesn't really matter who wins as between English and Mulvaney because Trump will still get to nominate a new director for a five-year term.  I think that's wrong for several reasons. First, the obvious: the process of nomination and confirmation is not […]

White House’s Mulvaney tells CFPB staff to ‘disregard’ Leandra English

Lots of stories and legal analysis today about the dispute over whether the President can name an acting director of the Consumer Financial Protection Bureau or whether the deputy director, by statute, has become the acting director. And Reuter's reports that the President's pick, OMB Director Mick Mulvaney, has instructed staff to disregard any directions […]

Report That English Seeking to Enjoin Mulvaney from Serving as Acting CFPB Director

by Jeff Sovern Kate Berry has the story in the American Banker.  She reports that the case will be filed in federal court in Washington, D.C., possibly as early as this evening. The report states that one of English's anticipated theories is that Trump is attempting to assert control of an independent agency by naming […]

How the OLC Has Gone Astray on the CFPB

by Jeff Sovern The Department of Justice's Office of Legal Counsel has now issued an opinion which, not surprisingly, expresses the view that the president can name the acting director of the CFPB. It argues that even though the VRA specifies that it is the "exclusive" way to fill vacancies "unless another statute 'expressly'  provides […]

Why the Industry Should Support English to Lead the CFPB

by Jeff Sovern First, in case anyone who reads this blog doesn't already know, yesterday, CFPB Director Richard Cordray appointed CFPB chief of staff, Leandra English, to become CFPB deputy director. Section 1011(b)(5)(B) of the Dodd-Frank Act provides that the deputy director  shall "serve as acting Director in the absence or unavailability of the Director." Mr. Cordray then […]

Politico Reports Two Other Candidates to Run the CFPB: Buckley & Strange

From Ben White's Morning Money Newsletter, here's the report on Buckley & Strange: POLITICO’s Lorraine Woellert: “There’s no shortage of wannabes to fill Richard Cordray’s soon-to-be-vacant post at the CFPB. The latest names to circulate are Jerry Buckley of Buckley Sandler, an industry go-to for consumer finance law, and Alabama’s Luther Strange, the Senate short-timer […]

Homeland Security Inspector General Pegs Back Misuse of Importation Summons Authority

by Paul Alan Levy Last spring, Twitter received a fair amount of attention for fighting a patently bogus attempt by the Department of Homeland Security to abuse its statutory authority to investigate the importation of goods as the basis for to issuing an administrative summons seeking to identify the owners of a Twitter account  hostile […]

Can Trump Appoint Mulvaney to Lead the CFPB Temporarily? Adam Levitin at Credit Slips & David Dayen at The Intercept Say No

by Jeff Sovern Adam's piece is here while Dayen's is titled THERE’S A HITCH IN TRUMP’S PLAN TO STICK MICK MULVANEY ON THE CFPB: IT’S ILLEGAL.  Adam's argument is based on the legislative history and makes a lot of sense, though I suppose a strict textualist would not be persuaded by the use of legislative history. But […]