Come Monday, there will be two people starting the same job as acting director of the Consumer Financial Protection Bureau (CFPB), one of them chosen by the agency's outgoing head (per the guidelines in the law that created the CFPB) and one picked by President Trump (per more general law on executive appointments). Both sides are apparently prepping for a legal fight — the Justice Department issued a memo justifying the administration's position Saturday evening — and lawyers told Reuters the dispute will likely go to court.
Trump defended his position on Twitter Saturday:
Trump did not explain why he would want to bring such a disastrous agency back to life. The Wall Street Journal article he appeared to have in mind describes the CFPB as unaccountable, partisan, and overreaching its legal purview from the very start of its six-year history.
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