New CFPB Director Calls The Agency A “Sad, Sick Joke”

White House budget director Mick Mulvaney is expected to be tapped by the White House to serve as acting director of the Consumer Financial Protection Bureau when the agency’s current head, Richard Cordray, resigns from his post later in November, according to a person familiar with the matter.

The move could be announced by the White House as soon as Friday, this person said. Mr. Mulvaney would continue to serve as the director of the White House Office of Management and Budget. He would return full-time to the OMB once the White House nominates and the Senate confirms a new, permanent director for the job, the person added.

At his OMB confirmation hearing in early 2017, Mr. Mulvaney called the CFPB “one of the most offensive concepts” in the U.S. government and said he stood by an earlier comment describing it as a “sad, sick joke.”

The Wall Street Journal, Nov. 16, 2017

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