A New York credit union has filed suit in federal court accusing the Trump Administration of a "hostile takeover" of the CFPB following the resignation of agency Director Richard Cordray.
The Lower East Side People's Federal Credit Union filed suit in U.S. District Court for the Southern District of New York contending that President Trump illegally appointed Office of Management ad Budget Director Mick Mulvaney to serve as interim director of the agency.
The suit states that the Mulvaney appointment has thrown the credit union into "regulatory chaos."
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