Personnel Is Policy: Succession Possibilities At The CFPB

By Andrew Sandler and Benjamin Olson (August 17, 2017, 1:02 PM EDT) -- The Consumer Financial Protection Bureau is headed by a single director, which means the replacement of one person with another can have a dramatic effect on the agency's rule-making, examination and enforcement agenda and, by extension, the industries it regulates and consumers of financial products and services. As expectations that the president would fire the CFPB's current director, Richard Cordray, have given way to anticipation that Cordray will resign shortly to pursue elected office in Ohio, affected constituencies have great interest in understanding who will become the interim director until the administration selects and the Senate confirms a new director, a process that could take many months....

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