Mick Mulvaney, former Congressman (SC-5) & Current OMB Budget Director Named Interim Director of CFPB

In the wake of Director Cordray's announced resignation, Mick Mulvaney has been named Interim Director of the Consumer Financial Protection Bureau (CFPB). Mulvaney formerly served in Congress and represented South Carolina's 5th District, and was a member of the influential House Financial Services Committee.

Mulvaney has been a longtime outspoken critic of the CFPB, and will likely use his position, to quote CBS News, "to lay the groundwork for overhauling it."

Senator Elizabeth Warren (D-Mass), one of the chief architects of the CFPB, reacted to the news with partisan pique, calling Mulvaney a "Trump-appointed industry hack." She continued "The new director of the CFPB must be someone with a track record of protecting consumers and holding financial firms responsible when they cheat people," Warren said. "This is no place for another Trump-appointed industry hack."

The CBS.com story may be found at https://www.cbsnews.com/news/mick-mulvaney-to-take-role-at-cfpb/