President Donald Trump named White House Office of Management and Budget Director Mick Mulvaney as the temporary head of the Consumer Financial Protections Bureau (CFPB) Friday evening.
“The President looks forward to seeing Director Mulvaney take a common sense approach to leading the CFPB’s dedicated staff, an approach that will empower consumers to make their own financial decisions and facilitate investment in our communities. Director Mulvaney will serve as Acting Director until a permanent director is nominated and confirmed,” the White House said in a statement.
Mulvaney will temporarily take over for outgoing CFPB Director Richard Cordary, who has served as the head of the agency since its creation in 2010.
Cordray sent a memo to agency staff in mid November announcing that he would retire before the end of November.
“I expect to step down from my position here (CFPB) before the end of the month,” Cordray wrote in a CFPB staff-wide memo.
Cordray is expected to make a run at the Ohio governorship in 2018.
Former Cincinnati Mayor Ken Blackwell and a former high-level Ohio elected official told The Daily Caller News Foundation in October to look for Cordray to run for Ohio governor once he announced his retirement.
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