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NY AG Blasts One of the Acting CFPB Chiefs

New York Attorney General Eric Schneiderman, on Tuesday, said his Office and a Coalition of Attorneys Generals (AG) around the Country would continue to Enforce Consumer Protection Laws amid turmoil at the Federal Consumer Financial Protection Board (CFPB).

Schneiderman, in a Letter Signed by the AGs, knocked one of the Acting Directors, Mick Mulvaney, who took over the Agency amid a Leadership dispute with the Departing, Democratic-nominated Head.

The Letter notes Mulvaney has been Critical of the Board’s Functions and Enforcement Powers.

“Such statements about an agency that has helped millions of American consumers and achieved fundamental reform in a number of critically important areas of American commerce are categorically false, and should disqualify Mr. Mulvaney from leading the agency, even on an acting basis,” the Letter states.

“As the top state law enforcement officials charged with investigating consumer complaints of fraudulent, deceptive and abusive financial practices in our respective states, we know from first-hand experience that the need for strong consumer financial protection is undiminished in the years since the financial crisis.”

President Trump Appointed Mulvaney to the Temporary Post after the Agency’s Former Director, Richard Cordray, announced he was stepping down. But by then, Cordray had already named his Former Chief of Staff, Leandra English, as Acting Director, setting up a Legal Battle that both sides acknowledge could linger for weeks or months. A Federal Judge is scheduled to hold Hearings on the matter.

In creating the CFPB, the Law tried to make this Department separate from the Administration, with no Senate Confirmation of the Director and the Director picking their Replacement.

The Supreme Court could have to make the Final Decision of who is the Director.

NYC Wins When Everyone Can Vote! Michael H. Drucker


This post first appeared on The Independent View, please read the originial post: here

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NY AG Blasts One of the Acting CFPB Chiefs


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