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Benjamin K. Olson Quoted in Wall Street Journal Article, “CFPB Official Sues Trump Administration Over Agency Leadership”

Wall Street Journal

Benjamin K. Olson

Benjamin K. Olson was quoted on November 26, 2017 in a Wall Street Journal article, “CFPB Official Sues Trump Administration Over Agency Leadership,” which discussed the suit brought by the CFPB’s interim director to prevent the Trump administration’s pick from taking over as acting director. The article stated, “An Obama-era official at the Consumer Financial Protection Bureau sued the Trump administration on Sunday night to block budget director Mick Mulvaney from taking control of the agency. Leandra English, a career staffer appointed Friday to lead the CFPB by former director Richard Cordray, filed the lawsuit in federal court the night before the bureau was set to reopen with dueling temporary leaders vying to take it over. President Donald Trump asserts he has the power to appoint an acting director, while the departing chief believed the law said otherwise. Last-minute maneuvering by Mr. Cordray means that come Monday morning, two officials have a claim on the acting top job: Mr. Mulvaney, who also serves as head of the Office of Management and Budget, and Ms. English. The White House has said Mr. Trump will eventually nominate his own choice for the next permanent director of the CFPB, who then needs to be confirmed by a simple majority in the Senate. Financial industry experts expressed alarm at the uncertainty created by the fight.”

Olson added, “If there has been one consistent criticism of the CFPB, it’s a lack of predictability, and we are now left with the greatest uncertainty since the bureau was established. You now don’t know whether the people you are interacting with have the authority to sanction you, or to advise you on the proper course of conduct.”

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