The US government has notched a big win in its battle over the consumer’s protection future. This is after a judge of a federal court permitted the president to act ahead of the forthcoming Consumer Financial Protection Bureau. Timothy Kelly, the Washington DC Judge, on Tuesday declined to order an injunction on the appointment made by President Trump of Mick Mulvaney as the Director of Budget. Mulvaney is a leading protagonist of the regulations by pro consumers.
The ruling precedes a lawsuit by Leandra English who had been appointed as the interim director of the Bureau by Richard Cordray, the outgoing chief, on Friday. Kelly, when announcing his decision, paid lip service to the White House’s executive powers which are currently being exercised by President Trump.
Kelly said that it raised a multitude of constitutional questions to deny the President of United States the authority to appoint a budget director. White House was however quick to claim victory over the Democratic Party which was fronting Mr. English for the position. The deputy White House Press Secretary said that the administration applauds the decision of the court which provided for the rightful authority of the President to designate the post of acting director of the CFPB to Mr. Mulvaney.
Mr. Raj Shar also said that it was time for the Democratic Party to desist from enabling the political stunt using a rogue employee like Mr. English. Shar also noted that Democrats should allow Mr. Mulvaney to continue with the smooth transition of the Bureau into an agency that had the customers’ needs at heart.
The row between English and Mulvaney had in the past few days become a lightning rod. The spat had been fueled by the president’s ambitions to reduce regulations and rollback the progressives and federal government’s influence. These two parties of interest had the determination to protect consumers in the financial crisis that hit the global economy and the US in the particle in 2008. The CFPB was perceived to be a critical break on the big banks under the stewardship of Cordray as part of the reforms by Dodd-Frank under which it was formed.
The appointment by President Trump on who should run the CFPB faces an incumbent rival which only serves to delay a tidal shift at the banking institution. On Monday, Mr. Mulvaney assumed his position as director of the agency in an acting capacity despite the row on who was the rightful candidate for the job. Mulvaney will be in office until a candidate is nominated and approves by the Senate.