Will Trump Replace a Part-Time CFPB Director with One Who is Never at the CFPB?

by Jeff Sovern

Acting CFPB Director Mick Mulvaney doubles as OMB director, meaning that he is doing two full-time jobs, and that therefore the CFPB does not have a full-time director. But the next director may be at the Bureau even less often than Mulvaney.  As Allison has noted, reports indicate that the president intends to nominate J. Mark McWatters as the next CFPB director.  Though McWatters is currently the chairman of the National Credit Union Administration, the Washington Post reports that he chairs the Alexandria, Virginia-based agency from his home–in Dallas, Texas. I don't see how a federal agency can be run by someone who is seldom present. If the president does nominate Mr. McWatters, this seems likely to come up at his confirmation hearings.  Perhaps Mr. McWatters will move.

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