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Dueling directors, court battle weigh on post-Cordray CFPB
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Regulatory Updates
Monday, November 27, 2017
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When Consumer Financial Protection Bureau employees walked into the office on Monday, they had two bosses, each believing they were the rightful successor to Director Richard Cordray, who filed his formal resignation Nov. 24, at which time he named a new deputy director of the bureau to succeed him as acting director. Within hours, President Donald Trump appointed his own acting director, as expected, leaving the bureau to question who to report to when the office opened again. On Sunday night, a suit was filed by the new deputy director’s attorney’s, seeking a temporary restraining order against Trump’s appointee. Read on for more about the events that unfolded in the last few days.
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