Bureau of Consumer Financial Protection Deputy Director Leandra English will step down from the bureau and no longer challenge Acting Director Mick Mulvaney for leadership of the bureau, according to reports Friday. President Donald Trump nominated White House budget official Kathy Kraninger to lead the bureau in June.
“We’re pleased to see this period of uncertainty at the bureau come to an end, and we look forward to continued engagement with Acting Director Mulvaney and his potential successor Kathy Kraninger,” said CUNA President/CEO Jim Nussle. “CUNA maintains that a bipartisan, multi-member commission leading the bureau would ensure transparency and consistency that the financial services industry needs.”
Trump appointed Mulvaney to serve as acting bureau director in November, after former Director Richard Cordray announced his resignation. Cordray named English as his replacement, and English subsequently sued to challenge Trump’s appointment authority.
CUNA filed a brief in support of the administration in May, saying that the president has authority to appoint an interim bureau director under the Federal Vacancies Reform Act. The U.S. District Court for the District of Columbia ruled in favor of CUNA’s position in January.