The agency has suffered a series of setbacks over the past two months, from a rollback of its arbitration rule to a legal battle over its leadership. Here's what happened — and where the agency might lose next.
In a letter to President Trump, 44 Democratic senators said the White House's appointment of Mick Mulvaney as interim director of the Consumer Financial Protection Bureau "jeopardizes the agency’s independence and effectiveness."
Richard Cordray, whose resignation as director of the Consumer Financial Protection Bureau sparked a battle over the agency's leadership, plans to announce on Tuesday he's running for Ohio governor as a Democrat.
Richard Cordray took a big gamble in his final act as head of the Consumer Financial Protection Bureau, attempting to appoint his own interim successor. He lost Tuesday, but he was far from the only one.
District Judge Timothy J. Kelly ruled Tuesday that Office of Management and Budget Director Mick Mulvaney was the legal interim head of the Consumer Financial Protection Bureau, denying a request by Deputy Director Leandra English to block the appointment.
OMB Director Mick Mulvaney said he would "fix" the CFPB by ensuring it protected consumers without cutting off access to financial services. His comments came as a federal judge declined to rule yet on the legality of Mulvaney's appointment.