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."
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more information visit Asset & Logo Licensing.