Agency Director Richard Cordray, in resigning Friday, effectively made Chief of Staff Leandra English acting director. That set up a fight with the Trump White House, which later Friday named Mick Mulvaney, director of the Office of Management and Budget, as interim director. The consumer watchdog agency has enmeshed in partisan politics since its creation after the 2008 financial crisis. Under Cordray, the first CFPB director, the agency implemented or proposed myriad new rules and regulations for the banking industry. Facing Republican opposition, former President Barack Obama had used a congressional recess appointment to install Cordray to lead the agency.

Source: Fox News November 26, 2017 19:15 UTC