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Benjamin K. Olson quoted in American Banker article, “What happens to CFPB if Mulvaney becomes Trump's chief of staff?”

American Banker

Benjamin K. Olson

Benjamin K. Olson was quoted on February 9, 2018 in an American Banker article, “What happens to CFPB if Mulvaney becomes Trump's chief of staff?” which discussed the reports that President Trump is considering CFPB Director Mick Mulvaney to replace the White House Chief of Staff, John Kelly. The article stated, “If Mulvaney is taken from the CFPB, it could cause complications for the Trump administration. For one, absent any other action by Trump, Mulvaney's departure would theoretically leave CFPB Deputy Director Leandra English as acting agency head. Under the Dodd-Frank Act, the deputy director automatically becomes acting director in the absence of a CFPB chief. In theory, Mulvaney could try to fire English before he leaves office and appoint his own deputy director. But during discussions on the lawsuit, Mulvaney and his attorneys have said that he has no intention of firing English. He could attempt to remove her as deputy director and place her in another position, however.”

Olson added, “Mulvaney doesn't have to fire English, he can remove her as deputy director and could change her job duties. The administration has invested significant resources in preventing Leandra English and anyone else associated with prior leadership from taking over the agency.”

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