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Administrative Appointments Richard Cordray Banking Sector

Ballard Spahr LLP

Democratic lawmakers, Republican attorneys general submit amicus briefs in CFPB Acting Director dispute

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Past and present Democratic Representatives and Senators filed an amicus brief in support of the motion for a temporary restraining order filed by Leandra English to block Mick Mulvaney from exercising the authority of CFPB...more

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TRO denied in CFPB Acting Director dispute; Mulvaney imposes regulatory freeze

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Tuesday afternoon, Judge Timothy Kelly of the D.C. federal district court denied Leandra English’s motion for a temporary restraining order (TRO) to prevent President Trump from appointing or recognizing the appointment of a...more

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Another argument for why Mick Mulvaney is the CFPB Acting Director

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As we reported, the DOJ’s Office of Legal Counsel (OLC) has issued a memorandum to the President’s Counsel in which it opined that the President has the legal right to appoint Mick Mulvaney CFPB Acting Director under the...more

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Federal court asked to decide who is CFPB Acting Director

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Last Friday, November 24, effective at midnight, Richard Corday resigned as CFPB Director.  Earlier in the day, the CFPB issued a press release announcing that Mr. Cordray had named Leandra English, the CFPB’s Chief of Staff,...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Time Inc. announced yesterday that it’s sold itself as part of a roughly $3 billion all-cash transaction to Meredith Corporation. Meredith, which publishes Family Circle and Better Homes and Gardens, among other glossies, is...more

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Judge Timothy Kelly, a Trump nominee, to hear lawsuit to determine CFPB Acting Director; TRO hearing scheduled for 4:30 today

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The declaratory judgment action and motion for temporary restraining order filed by Leandra English in the D.C. federal district court for a declaration that she, and not Mick Mulvaney, is the CFPB Acting Director has been...more

Troutman Pepper

Cordray's Departure Will Mean Big Changes at the CFPB

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One of two scenarios will likely occur in the near future at the CFPB. Either Director Richard Cordray will be fired by President Trump (for cause), or Cordray will resign to enter the 2018 Ohio gubernatorial race. If either...more

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Why David Silberman, the CFPB’s Acting Deputy Director, will not succeed Richard Cordray (if and when he resigns)

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On July 31, I published a blog post in which I suggested that, if Director Cordray resigns, Treasury Secretary Mnuchin would be the obvious and logical person to serve as CFPB Acting Director until President Trump nominates,...more

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Can President Trump appoint an Acting Director upon Director Cordray’s departure?

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Given the speculation that Director Cordray will soon resign to run for Ohio governor, we have been pondering whether President Trump could appoint an Acting Director upon his resignation or whether David Silberman, the...more

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Some thoughts on President Trump’s authority to replace Director Cordray

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There has been some debate about President Trump’s authority to designate a replacement for Director Cordray should he resign or be removed by the President. The Dodd-Frank Act authorizes the CFPB Director to appoint a...more

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D.C. federal district court rejects recess appointment challenge

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The D.C. federal district court has rejected the plaintiffs’ attempt in State National Bank of Big Spring, Texas, et al. v. Lew, et al. to invalidate the actions taken by Director Cordray while he was a recess appointee. The...more

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