Speed Reads


New acting CFPB director Mick Mulvaney vows 'to protect people without trampling capitalism'

Office of Management and Budget director Mick Mulvaney took over Monday as acting head of the Consumer Financial Protection Bureau — an agency he once called "a sick joke." Mulvaney said he wants the CFPB to "protect people without trampling capitalism," and announced a 30-day freeze on any new regulations, rules, and guidance. He also told reporters Monday that "elections have consequences at every agency," and warned that anyone expecting the CFPB to operate under the Trump administration as it did under the Obama administration is "simply naive."

Mulvaney, of course, isn't the only person who claims to be acting director of the CFPB. Outgoing CFPB head Richard Cordray, an Obama appointee, had tapped Leandra English as his successor. President Trump countered by appointing Mulvaney. On Sunday night, English filed a lawsuit claiming that the president did not have the authority to appoint Mulvaney.

On Monday morning, English sent an email to CFPB staffers welcoming them back from the Thanksgiving holiday and signed it "acting director." Mulvaney one-upped her in a separate email and told staffers to "disregard any instructions you receive from Ms. English in her presumed capacity as acting director." Then, in a naked and delicious attempt to curry favor, he added that staffers were welcome to grab donuts from the fourth floor.