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Volume 28 - Number 25

December 4, 2017

She Said, He Said: English’s Arguments vs Trump’s

The biggest CFPB story of the year – which appointee is authorized to head up the agency in the case of a resignation of the director – involves competing legal arguments interpretations of two federal laws. Deputy Director Leandra English is relying on the CFPB succession provision of the Dodd-Frank Act, while Acting Director Mick Mulvaney and the Trump White House are relying on the text of the Federal Vacancies Reform Act. The crux of their respective arguments to the U.S. District Court for the District of Columbia follows. English’s brief to the court declared: “The Dodd-Frank Act is clear on this point: It mandates that the deputy director ‘shall serve as the acting director in the absence or unavailability of the

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Poll

With mortgage production down noticeably this year from 2017, how many lenders might disappear via M&A or failure during the next 12 months?

10% or less. It’s not that bad out there.
11% to 25%. It’s a challenging market.
25% to 40%. It’s going to be very ugly.
No opinion.

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