There’s an extensive back story to this issue: Part I, and Part II, and Part III
The Director of the Consumer Financial Protection Bureau, Richard Cordray, has resigned. Senator Elizabeth Warren does not want President Trump to appoint an interim replacement. President Trump has announced OMB Director Mick Mulvaney will be the “acting” head of the agency until he nominates a permanent replacement for senate confirmation. Senator Warren wants to take President Trump to court to stop him filling the interim position.
The U.S. Dept. of Justice, Office of Legal Counsel (OLC), has provided legal guidance (full pdf outline of opinion below), and decided that President Trump clearly has the authority to appoint the acting Director. Senator Elizabeth Warren is going bananas.
The Dodd-Frank Act is clear: if there is a @CFPB Director vacancy, the Deputy Director becomes Acting Director. @realDonaldTrump can’t override that. pic.twitter.com/r949ccaJAb
— Elizabeth Warren (@SenWarren) November 25, 2017
By ignoring Dodd-Frank & naming his own acting @CFPB Director, @realDonaldTrump is causing chaos & market uncertainty. So I agree with Rich Cordray: this needs to be decided in the courts.
— Elizabeth Warren (@SenWarren) November 25, 2017
Here’s the OLC recommendation to the President:
[scribd id=365493749 key=key-F2UEoLtox2KsspOhGZ9E mode=scroll]
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https://twitter.com/realDonaldTrump/status/934539256940417024
https://twitter.com/realDonaldTrump/status/934542257222451206