Last week, we spotlighted the resignation of Consumer Financial Protection Bureau (CFPB) head, Richard Cordray. His departure left a mark of uncertainty over the fate of the institution – one of the financial industry’s top regulators.
Who’s the Boss?
This week sparked contention over who would be taking the helm following Cordray’s departure. Although Cordray had named his deputy director as acting head while a replacement was sought, it seems the White House already had a replacement in mind. Nick Mulvaney, who until recently served as director of the White House Office of Management and Budget, has been appointed as the CFPB replacement pick.