The hearing capped off what had been a frantic day at the CFPB, which has come under attack from Republicans who believe the agency has too much power. When a CFPB director resigns, according to the law, the agency’s deputy director immediately becomes its acting chief, serving out the remainder of the director’s term. At that point, the president can appoint a new director to a five-year term. When CFPB Director Richard Cordray stepped down last week, he tapped recently appointed Deputy Director Leandra English to take over his job until July. Letting Mulvaney take charge, Gupta argued, would “reward” bad behavior because the change took place after the lawsuit was filed.

Source: Huffington Post November 28, 2017 00:00 UTC