James Schultz: President Has Option To Name Replacement At CFPB
Philadelphia (CBS) - So who's in charge of the Consumer Financial Protection Bureau? President Donald Trump's budget director and now appointed acting director, Mick Mulvaney, or Leandra English, who was elevated to deputy director of the consumer watchdog group late last week by the outgoing director?
James Schultz, a former Senior Associate White House counsel for Trump tells Chris Stigall on Talk Radio 1210 WPHT that the appointment of the replacement at the CFPB is squarely within the option of the President of the United States, when a vacancy exists.
"There was a law passed in 1998 called the Vacancies Reform Act and it deals with vacancies, and gives the President that option. The Democrats are trying to say, well we had succession planning in the Dodd Frank Bill which created that agency, the Consumer Financial Protection Bureau. They believed that they had succession planning in that bill. The bottom line is they don't. All they addressed was basically is when someone going on vacation or taking extended sick leave when the director is unavailable to do his job. That has nothing to do with a vacancy that's created. They're just playing on words in that statute to try and continue (former director Richard) Cordray's political agenda that he was advancing at that agency."
English has asked a judge to issue a temporary restraining order to block Mulvaney from taking over the bureau.
Schultz is now back at the Philadelphia-based law firm Cozen O'Connor as chairman of its government and regulatory practice.
