The Dodd-Frank Act is clear. The CFPB is run by its deputy director until the Senate confirms a new director. But Trump is trying to brazenly ignore the law.

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Don’t let Trump illegally install a Wall Street crony to run the CFPB!

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    Petition:
    We denounce Donald Trump for installing Mick Mulvaney as an illegal acting director of the Consumer Finance Protection Bureau. Richard Cordray appointed Leandra English as deputy director. In accordance with the law, she assumes the title of acting director, not Mulvaney. Installing Mick Mulvaney is a clear violation of the Dodd-Frank Act.

    When Mick Mulvaney walked into work, he was hit with a lawsuit.1 And for good reason: Donald Trump is trying to install Mulvaney as acting director of the Consumer Finance Protection Bureau, in a clear violation of the law.

    Add your name: Denounce Trump for installing Mick Mulvaney as an illegal acting director of the Consumer Finance Protection Bureau.

    When Mick Mulvaney was a Tea Partier in Congress he not only called the Consumer Finance Protection Bureau a “sick, sad joke,” and then voted in favor of killing it.2 He also took accepted over $1.3 million in donations from Wall Street.3 The Consumer Finance Protection Bureau is the only federal agency intentionally designed to protect consumers against predatory lenders and Wall Street – which is why Trump is hellbent on gutting it, even if that means breaking the law.

    By picking Wall Street-friendly career politician, Mick Mulvaney, as acting director of the Consumer Finance Protection Bureau, Trump is violating the Dodd-Frank Act. That law is crystal clear: when a director steps down, the deputy director becomes acting director until the Senate confirms a nominee.

    Add your name: Denounce Trump for installing Mick Mulvaney as an illegal acting director of the Consumer Finance Protection Bureau.

    This isn’t just a battle over a job title – the stakes are pretty high here. To date, the Consumer Finance Protection Bureau has forced financial institutions like Wall Street banks (i.e. Trump’s friends) to pay back $12 billion to consumers they scammed. They’ve forced predatory payday lenders to follow the rules and helped expose the Wells Fargo fake-accounts scandal.

    Trump wants to dismantle the Consumer Finance Protection Bureau from the inside by illegally installing, Mick Mulvaney – the guy who voted to kill the agency – as acting director.

    Denounce Trump for installing Mick Mulvaney as an illegal acting director of the Consumer Finance Protection Bureau.

     

    Sources:
    1. Politico, “Confusion and chaos engulf consumer agency,” November 27, 2017.
    2. CNN, “Showdown over top post at key watchdog agency,” November 27, 2017.
    3. Open Secrets, “Rep. Mick Mulvaney - South Carolina,” November 27, 2017.