Leandra English Drops Challenge to Mulvaney’s CFPB Acting Head Appointment
NAFCU and CUNA officials say both organizations will continue to push forward on CU-related items with the bureau.
CFPB official Leandra English has resigned and will abandon her legal challenge to Mick Mulvaney’s appointment as acting agency director—removing some uncertainty surrounding the bureau’s leadership.
English said she was resigning and asking that her legal challenge to Mulvaney’s appointment be dismissed because President Trump has nominated a permanent director—Kathy Kraninger—to lead the bureau.
In a related development, the Senate Banking Committee has scheduled a July 19 confirmation hearing for Kraninger.
When he resigned, former Director Richard Cordray appointed English as deputy director, citing provisions of Dodd-Frank that he contended would make English his temporary replacement.
However, Trump appointed OMB Director Mick Mulvaney as acting director, under the Federal Vacancies Reform Act.
English challenged that appointment, but Mulvaney’s appointment was upheld in federal court. English appealed that ruling and that case has been pending before the U.S. Circuit Court of Appeals for the District of Columbia.
CUNA President/CEO Jim Nussle said that the trade group is pleased to have the period of uncertainty come to an end and will continue to push legislation he said would solve similar problems in the future.
“CUNA maintains that a bipartisan, multi-member commission leading the bureau would ensure transparency and consistency that the financial services industry needs,” he said.
NAFCU officials said they will continue to push the bureau to exempt credit unions from agency rules.
Meanwhile, critics of Kraninger’s nomination say that the OMB official has no experience with the financial services industry.
And Senate Banking Committee Member Elizabeth Warren has said she will place a hold on the nomination until she receives information about her possible role in the administration’s policy that resulted in immigrant parents being separated from their children.
As an associate director at OMB, Kraninger works on budget and policy issues dealing with the Homeland Security and Justice Departments. Those agencies are implementing the administration’s immigration policies.
Mulvaney will be able to serve as acting CFPB director until Kraninger is confirmed, although both his appointment and Kraninger’s nomination expire at the end of the year.