by Mitch Kokai
Senior Political Analyst, John Locke Foundation
More than 25 conservative leaders are pressing the Consumer Financial Protection Bureau’s Acting Director Mick Mulvaney to conduct an audit of the bureau’s finances.
“Every aspect related to CFPB should be put on the table, and what we can do through administrative action, either through the audit process or whatever rollbacks we need to do, we should do it,” said FreedomWorks vice president of legislative affairs Jason Pye, who signed on to a letter sent to Mulvaney last week.
The CFPB is a creation of the 2010 Dodd-Frank Act and has been under the leadership of Obama appointees until November of last year when the long-time director Richard Cordray resigned to pursue his candidacy for Ohio governor.
The exit set off a power struggle: Cordray attempted to appoint hand-picked successor Leandra English to serve as acting director, while President Trump appointed his budget director, Mick Mulvaney, to serve in that post.
A legal appeal is still playing out over whether Mulvaney will remain, but a judge refused to issue an injunction that would have removed Mulvaney from office, suggesting he is likely to prevail.
Conservatives are pressing Mulvaney for transparency, as they have criticized the CFPB for being both unaccountable and also unconstitutional.