Trump Nominee Could Stymie CFPB Rulemaking, Pending the PHH Case
January 3, 2017
Depending on how the PHH Corp. v. CFPB case shakes out, the bureau’s rulemaking abilities will likely be severely challenged by the incoming administration of President-elect Donald Trump. In a recent client note, Barbara Mishkin, of counsel in the Philadelphia office of the Ballard Spahr law firm, pointed out how Trump’s selection of Rep. Mick Mulvaney, R-SC, as his nominee for director of the Office of Management and Budget (OMB) could become a major impediment for the bureau in its effort to crank out new regulations going forward. “Mr. Mulvaney has been described as a staunch deficit hawk and his nomination is viewed as sending a signal that federal regulations are likely to face tough scrutiny in a Trump administration,” ...