Trump Nominates New CFPB Director: Does it Matter?
President Trump has nominated Stuart Levenbach to serve as permanent director of the CFPB. Levenbach is an Office of Management and Budget official and aide to OMB Director, and current CFPB Acting Director, Russ Vought. If the Senate confirms Levenbach, he likely would continue Vought’s work to close down the CFPB . President Trump withdrew his prior nominee to run the Bureau, Jonathan McKernan, last May. Acting Director Vought’s Term Gets Extended. One byproduct of Levenbach’s nomination is that it allows Vought to continue serving as the CFPB’s acting director . Under the Federal Vacancies Reform Act, an individual may remain acting director for no longer than 210 days, beginning on the date of the vacancy . However, an acting director may continue to serve while a first or second nomination of a permanent director is pending. And if the nomination is withdrawn (as happened with the prior nomination for permanent director) then an acting director may serve for...