The CFPB Has Been Great for Consumers. So of Course Trump Wants to Gut It.

[ Originally published on this site as post ]

For the civil servants at the sole financial regulator devoted to protecting consumers, Monday morning wasn’t just a dreary return to work after a holiday break. It also occasioned an awkward dance between two competing bosses who both claim to be in charge.

The Consumer Financial Protection Bureau’s first and so far only director, Richard Cordray, abruptly resigned last week. President Trump wants his budget director, the ultra–fiscal conservative Mick Mulvaney, who has called the CFPB a “sad, sick” joke, to lead the agency. Leandra English, who was deputy director under Cordray, argues that she should be made acting director automatically, and filed a lawsuit this weekend saying that Trump lacks the authority to replace her.

Why is Trump playing such