As politicians battle over who can be today in charge at the Consumer Financial Protection Bureau, some people might wonder what the agency can be, what that will does along with why that will’s at the center of debate in Washington.
The consumer watchdog along with its former Director Richard Cordray have been points of partisan contention for years. Generally speaking, Democrats support the agency along with its goal of protecting consumers, while Republicans say its structure, funding along with lack of oversight have resulted in government overreach.
This kind of latest disagreement centers on who has the legal authority to lead the CFPB. On Friday, Cordray announced he was stepping down that will day, along with appointed a deputy director to act as interim head: Leandra English, previously his chief of staff. nevertheless shortly after Cordray’s statement, President Donald Trump announced that will his budget director, Mick Mulvaney, will serve inside the acting CFPB director role.