CFPB Confusion Again

california state assembly is the lower house of the california state legislature.

Richard Cordray Resigns In A Hurry

He appoints Leandra English, Acting Director. This move is based on a statute from 2010 when the CFPB was formed that stated that this was legal.

When President Trump heard of the resignation, he appointed Mick Mulvaney, Interim Director, based on a 1999 statute that stated that this was the President’s legal right.

Two directors, one office. English quickly filed a law suit. Judge Timothy Kelley filed a quick answer favoring the Trump Version.

When The Agency Was Formed

President Barack Obama could not get a Director Confirmed. So on January 4, 2012 he appointed Richard Cordray on a recess appointment (appointing someone when Congress is not in town). However, the Senate had one person open up the store each day. The appointment was vacated on June 26, 2013 by a Federal Court stating that Congress was not in recess.

Then on July 16, 2013 in a big surprise the Senate voted 66-34 to appoint Cordray to a five year appointment. The wheels of Congress grind slowly and strangely.

Now, According To Many Sources And The People Who Are Talking:

Cordray is going to run for Governor of Ohio. If you study his past, he has not won all of his elections in Ohio so this could be a gamble. However, it was a sure thing that he would not be re-appointed on July 16, 2018 when his time ends.

Interesting Facts With No Application To This Topic:

Cordray was a 5 time undefeated Jeopardy Champion.

In my Management classes I advise students on evictions. When the tenant is being removed by the sheriff, you should have a trusty locksmith standing next to you. You change the locks at once. If a tenant goes back in and wrecks the lock, it is a criminal matter. So Richard, where was your trusty locksmith.

Also, Mike Mulvaney Is Now The Interim Director

Who is he? Before being appointed Budget Director by our President, he was a member of the House from South Carolina. He was a member in good standing of the Tea Party and the Freedom Caucus. Georgetown University, Law Degree from the Chapel Hill University. He brought donuts (Dunking Donuts) his first day so maybe somewhere in the past he was a Realtor Affiliate.


5 Responses to CFPB Confusion Again

  1. Shar December 3, 2017 at 10:16 am #

    Don’t quite understand why you are weighing in on politics. It turns off half of your audience.

    • Duane Gomer December 5, 2017 at 11:31 am #

      I think in my business that I have to keep MLO’s up-to-date on the CFPB, The Fed, Hud, etc. I wrote this and just presented the facts. If you saw any bias, it was surely not intended. I just gave facts, and a comment about locksmiths.

  2. Joanie Burt December 5, 2017 at 12:41 pm #

    I like it. You are very good at keeping away from opinion.

  3. Lock Masters Frisco February 11, 2018 at 7:19 am #

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    • Duane Gomer February 14, 2018 at 1:31 pm #

      Thank you for the kind comments, nice to know someone is reading. You keep reading, i will keep presenting, therefore, keep in touch.

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