This story appeared in Bank Digest.
Senator Ben Sasse (R-Neb) has led a group of nine Senators in a letter to Office of Management and Budget Director Mick Mulvaney, who President Donald Trump has appointed acting director of the Consumer Financial Protection Bureau, announcing their intention to work to invalidate any new rules issued by the CFPB if Deputy Director Leandra English prevails in her attempts to serve as the Bureau's acting director instead of Mulvaney.
English filed a lawsuit seeking a temporary restraining order to prevent Mulvaney from serving as CFPB acting director, but a federal district court judge denied the request.
Referring to English, the senators wrote, "Unfortunately, this rogue employee is trying to follow former CFPB Director Cordray's example and run the agency as an unaccountable fourth branch of government. Should this employee prevail in court and successfully serve as Acting Director, we would support legislative efforts to invalidate any new rules finalized by the agency during this employee's service, including the use of the Congressional Review Act. We would also fight to ensure that Congress defunds the CFPB until this employee has relinquished control of the CFPB."