Episode 4: Cordray Successor Confusion Placed a ‘Cloud’ Over the CFPB
Following the resignation of Consumer Financial Protection Bureau Director Richard Cordray, there has been much confusion surrounding the future of the CFPB and its leadership. Cordray named Leandra English as the agency's interim head, shortly before President Donald Trump named Office of Management and Budget Director Mick Mulvaney to the position, which ensued chaos. However, on the evening of Nov. 28, amid a battle of who would be the agency’s interim head, U.S. District Judge Timothy Kelly ruled in favor of the White House. In this episode of The Roadmap, Lucy Morris, partner in the Washington, D.C., office of Hudson Cook LLC, offers her insight into the CFPB leadership chaos, and advice for lenders in the short and long term. Morris also voices her opinion on who could be the permanent replacement for Cordray, and in what ways the CFPB could potentially change -- or not change -- under new leadership.
Following the resignation of Consumer Financial Protection Bureau Director Richard Cordray, there has been much confusion surrounding the future of the CFPB and its leadership. Cordray named Leandra English as the agency's interim head, shortly before President Donald Trump named Office of Management and Budget Director Mick Mulvaney to the position, which ensued chaos. However, on the evening of Nov. 28, amid a battle of who would be the agency’s interim head, U.S. District Judge Timothy Kelly ruled in favor of the White House. In this episode of The Roadmap, Lucy Morris, partner in the Washington, D.C., office of Hudson Cook LLC, offers her insight into the CFPB leadership chaos, and advice for lenders in the short and long term. Morris also voices her opinion on who could be the permanent replacement for Cordray, and in what ways the CFPB could potentially change -- or not change -- under new leadership.