Elizabeth Warren Goes Bananas Over CFPB Director Change…

The Consumer Financial Protection Bureau (CFPB) was the brainchild of Senator Elizabeth Warren as an outcome of the Dodd-Frank legislation. With the CFPB Pocahontas tried to set up the head of the agency, the Director, in a manner that that he/she would operate without oversight. Unfortunately, her dictatorial-fiat-design collapsed when challenged in court.  Backstory #1Backstory #2

A federal court found the CFPB Director position held too much power and deemed it unconstitutional. The court decision noted that giving the President power to fire the Director would fix the constitutional problem.

However, with the prior court ruling as a backdrop, a second issue for Warren surfaces as an outcome of the current CFPB Director, Richard Cordray, resigning and President Trump appointing an ‘interim’ head for the agency.

Senator Warren, apoplectic at the thought of CFPB critic Mick Mulvaney acting as head of the agency, wants the Deputy Director,  Leandra English, to become Acting Director and points to Warren’s legislative outline as evidence to support her demand. Except it doesn’t…. not even a little bit.


The language Pocahontas points to in the CFPB construct, points to the Deputy Director filling in during the “absence” or “unavailability” of the Director. The statute clearly does not provide a mechanism when the Director position is “Vacant”.

President Trump has power to appoint the interim or ‘acting‘ head of the agency in the case of a vacancy just like he would any other vacancy. [Important Reminder: A DC appellate court already ruled the legal issues with the CFPB Director position necessitate oversight by the executive branch.] The President fills the vacancy using the familiar mechanism of the Federal Vacancies Reform Act (FVRA); until such time as a permanent replacement is nominated and confirmed by the Senate.

The Dodd-Frank statute Warren cites doesn’t provide a mechanism in case of vacancy. It has a provision for when the Director is “absent” or “unavailable”, both considered temporary terms by design, but not when the Director-ship is “vacant”.

The resigning director, Richard Cordray, (who resigned from a confirmed position) cannot appoint his replacement; that responsibility falls to the President.

Nowhere in Dodd-Frank statute does congress say they are repealing Federal Vacancies Reform Act for the Consumer Financial Protection Bureau. Therefore FVRA applies to CFPB regardless of whether Senator Warren likes the designated person assigned, or not.

As Sheldon Gilbert rightly points out:

1) In pari materia: with regard to vacancies, courts have to construe the two statutes (Dodd-Frank and FVRA) so that both make sense. The clearest way to do that, Dodd-Frank doesn’t address “vacancies” in a manner inconsistent with FVRA.

2) Ordinary or canon language: “absent” and “unavailable” are not ordinarily given the same meaning as “vacant.” Congress knows how to talk about vacancies in organic statutes; it does it all the time. But it didn’t do that in Dodd-Frank for the CFPB. Ergo the Federal Vacancies Reform Act applies.

(Via Reuters) –  Trump named White House budget director Mick Mulvaney, a fierce critic of the agency, to temporarily oversee the CFPB until he nominates someone to take on the job – a pick expected in upcoming weeks, senior administration officials told reporters on a conference call.

Democrats, accusing the White House of finding a backdoor method to defang a banking watchdog, point to language in the Dodd-Frank law that created the CFPB, stipulating the deputy director replaces the director when he or she leaves.

But administration officials said the 1998 Federal Vacancies Reform Act gives presidents the power to temporarily fill agency positions, except for those with multi-member boards – an exemption that they said did not apply to the CFPB.

“We believe this move by the president is a typical routine move exercised by presidents,” said one of the officials, who spoke to reporters on condition of anonymity, noting the White House had sought guidance from the Justice Department before Trump named Mulvaney to the job.

The Justice Department’s Office of Legal Counsel will soon publish a formal view, the officials said.

Cordray was the CFPB’s first director, so this is the first time the agency’s succession plan has been tested.

Republicans have complained the agency is too powerful and lacks oversight from Congress on its operations. Industry critics said the succession battle was a case in point of how the agency had too much power.

“The CFPB’s current governing structure is a dictatorship, period,” Richard Hunt, head of the Consumer Bankers Association, said in a statement.

[…] Trump’s nominee must be confirmed by the U.S. Senate, meaning that Mulvaney could be the acting director for months.

The fight has raised practical questions about how the agency would operate when its doors open on Monday.

The White House has not been in touch with Leandra English, the deputy who Cordray put in charge, officials said, saying they expected she would be at work on Monday and continue as Mulvaney’s deputy.

“We don’t have any reason to think that anything out of the ordinary course will happen: we think (Mulvaney) will show up Monday and he will go into the office and start working,” a senior administration official said.

“We have gone out of our way to avoid an unnecessary legal battle with Mr. Cordray and his actions clearly indicate that he’s trying to provoke one,” another official said.

The issue will likely be challenged in courts, which could mean “this enormous cloud of uncertainty” hangs over the CFPB in the meantime, said Alan Kaplinsky, who heads the Consumer Financial Services Group for Ballard Spahr LLP.

Kaplinsky said he believes the Dodd-Frank law provides for the deputy director to take charge during a shorter-term leave, but Congress did not explicitly list the resignation of the director as a situation where the deputy would step up.

“I think Trump wins, but unfortunately it is going to take a while,” Kaplinsky said. (link)

While in congress Mick Mulvaney, along with dozens of Dodd Frank critics, strongly opposed the creation of the CFPB and the scope of control within its mandate to regulate all consumer financial transactions.  During his confirmation hearing Mulvaney referred to the CFPB as “one of the most offensive concepts” in the U.S. government and that he stood by an earlier comment describing it as a “sad, sick joke.”

The Democrats, most specifically Elizabeth “Pocahontas” Warren and crew, are apoplectic at the end result of their too-cute-by-half plans and the possibility of their agency being deconstructed.  What is even more delicious to note – in their rush to construct the entire CFPB scheme the Dodd-Frank law does not specify the deputy director as next in line to serve in the event of a vacancy.  That means President Trump is within his normal constitutional powers to appoint whomever he likes.

In appointing Mick Mulvaney President Trump has now put in place someone who can be counted on to deconstruct Warren’s leftist plan to control all our financial transactions by dictatorial fiat and unilateral authority.   By their own doing Pocahontas et al created a situation they are now powerless to stop.

This entry was posted in Bailouts, Big Government, Big Stupid Government, Dem Hypocrisy, Dept Of Justice, Economy, Legislation, media bias, President Trump, Professional Idiots, propaganda, Uncategorized, US Treasury, USA. Bookmark the permalink.

145 Responses to Elizabeth Warren Goes Bananas Over CFPB Director Change…

  1. Janice says:

    Since June 2016, i start every day with relish anticipating another day of winning! I was living under a cloud of dispair for a good 13 years. I am no ways tired of this God Blessed Administration! More Winning Please!

    Liked by 18 people

  2. M. Mueller says:

    Thank you, President Trump. Thank you from all of the “little people,” the voiceless and unpowerful ones. Thank you from the bottom of our hearts for all you do and have given up on our behalf. Your business is suffering, your family has been threatened by ISIS and others, Your time has been sacrificed for us instead of your pleasure and your family.

    We are aware of all of this, and we will not let you down. There are no words to thank you enough.

    Constant prayers!

    Liked by 21 people

    • TatonkaWoman says:

      A great big “thank you” and amen from this “little person.” I am in awe of the strength that God has given this man and his family to endure all that has been laid upon him in answering God’s call.

      Liked by 14 people

  3. ray76 says:

    Bahaha! I love it!

    Liked by 5 people

  4. jbrickley says:

    Come Monday, “Miss Money Penny, please have Leandra English come to my office as soon as possible”.

    You’re FIRED, security will escort you to your office to box your personal items. Anything you cannot take with you in the next four hours will be tagged and shipped to your home. Say hi, to Senator Warren for me, would you please?

    Liked by 14 people

    • Roger Duroid says:

      Better yet, he should have security deactivate her entry badge tonight so she can’t get in the building Monday. Lock her computer password and delete her remote access. He’s in charge right now.

      Liked by 6 people

    • PatriotKate says:

      I suspect that’s how it will be explained to Ms. English on Monday morning. Since the statute clearly states the President can fire the Director, Mulvaney can simply tell her that either she remains his Deputy or the President has the absolute power to fire either the Director or Acting Director and will duly act to fire her if she refuses to relinquish the role.

      Liked by 3 people

  5. jbrickley says:

    Just waiting for someone to pop a blood vessel and give up the ghost. It’s bound to happen soon what with all this WINNING.

    Liked by 4 people

  6. Gaius Gracchus says:

    Still not tired of winning…

    Liked by 5 people

  7. tonyE says:

    Watch.. 3, 2, 1… a ruling from a Federal Judge in Hawai’i, Washington St, or San Francisco ruling that Pocahontas is the valid director and Trump acted unconstitutionally.

    Liked by 9 people

  8. Zephyrbreeze says:

    Nice try. But no.

    Liked by 2 people

  9. Atticus says:

    Liawatha sez: “POOP!”
    (Her favorite cuss word).

    Liked by 2 people

  10. Happy Flower says:

    The CFPB has been a disaster for years. Glad Trump is taking over and trust me a lot of “Pandora’s box” situation will be expose soon about that agency.

    Liked by 2 people

  11. lvdancer says:

    Fauxcahontas is triggered and now on warpath! LOL

    Liked by 1 person

    • starfcker says:

      Don’t forget, Cordray was an obongo recess appointment, later ruled illegal by the Supreme Court. He was only confirmed after a brilliant Mitch (the bitch) McConnell deal, brokered by mccain and schumer, that gave the democrats Cordray, Tom Perez and Gina McCarthy in exchange for…… hmmmmm, this is the hard part. I don’t think we got anything. Were we supposed to get anything? I’m a bit confused.

      Liked by 1 person

  12. dizzymissl says:

    Liked by 3 people

  13. Pat Childs says:

    Let us go to the Way Back Machine. The place where memory lasts more than 3 days. The place liberals never need go. Because each day starts anew if you are a liberal.
    President Obama, herald of The New World, ignored the strictures of the very law cited by Warren and appointed Cordray without Senate confirmation. Secondly, with no consultation to Congress, nor any legal precedent or statutory authority, President Obama appointed Elizabeth Warren as the continuing counselor for the agency, with no term limit, to officiate and recommend implementation of the rules and regulations necessary to constrain capitalism and redirect financial assets to targeted Democratic voting blocs.

    Liked by 4 people

  14. Curry Worsham says:

    Liked by 2 people

  15. keebler AC says:

    Liawatha be like,

    “In [my vacancy], my secretary can take your message…”

    “I’m [vacant] to take your phone call, please leave a message…”

    Liked by 3 people

  16. Che Pup says:

    The funny thing is, all this was analysed and determined in a nano second by Trump and team. The Dem’s, Warren included are intellectual pygmies in comparison. Hence, their too-cute-by-half move to have outgoing head Cordray appoint ‘acting deputy’ Leandra English (in that acting position for 2 years) as full ‘deputy’ on his last day in the role.

    Warren is no genius and the Dems are operating on levels of smarts so far below Trump, that in their impatience it seems all their moves are temporary inconveniences at most. Trump builds structures to last. No temporary constructions built on unstable foundations for him.

    So it seems through patience, adherence to the law and intensive multi faceted cost benefit analysis, almost every Obama administration perversion will be eliminated lawfully and permanently.

    Liked by 6 people

  17. Che Pup says:

    I am writing a multi part series on how to better understand Trump. Here is my latest part 4. which talks about MAGA. It has a lot of historical backstory, but it will resonate with CTH readers. Parts 1, 2 and 3 deal with media bias, debunks the racist, sexist, fascist accusations and look at the remarkable consistency in Trump’s attitudes and stated positions over 25 years.


    Liked by 2 people

    • OS says:

      Hi. As a Norwegian I find your series to be very interesting. But the text formatting makes it kind of an annoyance to read. Tested in Internet Explorer (line breaks an mass) + Chrome (end of lines not visible). I will still read it though in IE – but maybe you can fix it without to much work for a better reading experience? Best regards and thank you. (Part 1, 2 and 3 is fine)


  18. HappyTrumper says:

    Calling this one “Pocahontas” give her too much dignity. In Massachusetts, we call her “Fauxcahontas” ’cause it’s more accurate.
    Not yet tired of winning!!! Thankful for my president and all the great contributors to this site!

    Liked by 1 person

  19. WSB says:

    SD, thank you for posting! Is this the agency that was siphoning money from banks to Soros hosted left winged 501C3’s?

    Liked by 1 person

  20. oldguy says:

    Squaw cannot read!

    Liked by 1 person

  21. Realist says:

    Having the corrupt undemocratic DemoncRATS so keen on appointing Ms English tells you one thing – she is the LAST person who will be considered for the post.

    Liked by 1 person

  22. zaq123 says:

    It seems to me that the language is pretty clear. Imagine that, that a politician, the one who wrote the darn thing, and a government bureaucrat, are unable to understand/accept the rules. They all thought their liberal ride was going to last forever.

    I hope Mulvaney has a mandate to shut the thing down as soon as possible.

    Liked by 1 person

  23. tsmifjones says:

    Did I say President Trump was Great, yes I did.. I’m sorry but after reading this I have to say it again… PRESIDENT TRUMP IS GREAT! MAGA

    Liked by 1 person

  24. Pingback: NY Judge Rules Consumer Financial Protection Bureau Unconstitutional Construct – IOTW Report

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