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Financial Services Law Insights and Observations

Mulvaney Completes First Week as Acting Director of CFPB

Federal Issues CFPB Trump Courts CFPB Succession

Federal Issues

In his first week at the Bureau, Mulvaney ordered freezes on hiring and any new regulations for 30 days, and also announced a halt to payouts from the enforcement fund. It is also reported that Mulvaney has put new enforcement actions on hold as he reviews on-going matters. Additionally, on December 1, the White House appointed Brian Johnson, an aide to House Financial Services Committee Chairman Jeb Hensarling (R-Texas), to assist Mick Mulvaney in his role as the Acting Director of the CFPB. Johnson was a featured speaker at Buckley Sandler’s CFPB Today conference at the end of October.

As previously covered by InfoBytes, Judge Timothy Kelly, denied CFPB Deputy Director Leandra English’s  request for a temporary restraining order preventing Mulvaney from acting as the Acting Director. English is expected to continue the litigation; a briefing schedule is due in the case by December 1.

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