CONSUMER CHAOS: Obama Holdover SUES Trump Administration

posted by admin - 11.16.17

The federal watchdog agency charged with protecting American consumers from “big banks” and Wall Street finds itself in turmoil this week, with an Obama administration holdover suing the White House after President Trump appointed his budget director to lead the organization.

According to Fox News, outgoing Deputy Director Leandra English filed a lawsuit against the administration, claiming she should head the Consumer Financial Protection Agency –created in the aftermath of the financial collapse in 2007- after the current Director steps down.

The Trump administration believes the President has the authority to appoint a new leader.

“The Trump administration is ignoring the established, proper, legal order of succession that we purposefully put in place, in order to put a fox in charge of a hen house,” said Senate Minority Leader Chuck Schumer.

The White House responded to English’s suit, saying they were “aware” of the situation but believe the President acted within his authority to appoint budget director Mick Mulvaney to the position.

“Now that the CFPB’s own General Counsel – who was hired under [outgoing director] Richard Cordray – has notified the Bureau’s leadership that she agrees with the Administration’s and DOJ’s reading of the law, there should be no question that Director Mulvaney is the Acting Director,” White House Press Secretary Sarah Sanders said in a statement.