Economy

CFPB's Leandra English Just Asked for a Preliminary Injunction Against Mulvaney

CFPB's Leandra English Just Asked for a Preliminary Injunction Against Mulvaney”

The Lower East Side People's Federal Credit Union, which is suing Trump and Mulvaney, says it doesn't know who's running the bureau - and wants a NY federal judge to figure out who's in charge.

Mulvaney has already brought in Brian Johnson, a former aide to House Financial Services Committee Chairman Rep. Jeb Hensarling (R-Texas), to be a senior aide at the bureau.

Mr. Mulvaney said he planned to split his time between the consumer bureau and the White House Office of Management and Budget, where he was still the director.

Relying on the Dodd-Frank Wall Street Reform and Consumer Protection Act, which created the CFPB in 2010, English became acting director when her predecessor, Richard Cordray announced his resignation on November 15. It has been reported that Mr. Mulvaney has suspended the CFPB's investigation of a company that has challenged the CFPB's constitutionality and authority to issue a civil investigative demand to the company pending a ruling by the federal district court hearing the company's challenge. A federal judge last week refused to grant an emergency injunction that would have given Ms.

Tuesday's challenge in NY takes a similar tack, saying that Trump has thrown credit unions and banks across the country "into a state of regulatory chaos".

Trump named cabinet member Mick Mulvaney as the CFRB's next director - but some see the appointment as illegitimate.

"CoA Institute's FOIA seeks all records reflecting the number of CFPB devices on which encrypted messaging applications were installed, internal policy guidelines on the use of such apps, as well as the communications themselves and efforts by CFPB to recover and archive these messages", the request reads.

"I'm looking at each of those on an individual basis, so it's going to take a while to sort of get through all of those", Mulvaney said. "The appointment of defendant Mulvaney poses an immediate threat to American consumers, including and especially the Credit Union's vulnerable, low-income membership".

Leadership of the usually low-key agency became the focus of a partisan fight and a court battle last week after the resignation of Richard Cordray, its director and a holdover from President Barack Obama's administration.

Seeking an injunction and declaratory relief, the credit union is represented by Ilann Maazel of Emery Celli Brinckerhoff & Abady.



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