Right and Left React to the Turmoil at the Consumer Finance Watchdog

Right and Left React to the Turmoil at the Consumer Finance Watchdog

- in World Biz

The political news cycle is fast, and keeping up can be overwhelming. Trying to find differing perspectives worth your time is even harder. That’s why we have scoured the internet for political writing from the right and left that you might not have seen.

Has this series exposed you to new ideas? Tell us how. Email us at ourpicks@nytimes.com.

For an archive of all the Partisan Writing Roundups, check out Our Picks.

From the Right

Mick Mulvaney after visiting the Consumer Financial Protection Bureau on Monday.

Alex Wong/Getty Images

Adam White in Notice & Comment:

“It seems fitting that Cordray would leave behind himself a cloud of appointment-related controversy, given the circumstances of his original unconstitutional appointment.

Mr. White, a research fellow at the Hoover Institution, takes his readers through the legal reasoning that justifies President Trump’s appointment of Mick Mulvaney as acting director of the Consumer Financial Protection Bureau. Mr. White opens his argument by noting that President Barack Obama’s initial appointment of Richard Cordray as the bureau’s director was itself unconstitutional and that Mr. Cordray’s decision to name his deputy as his successor is yet another attempt to “undermine the lawful process for appointing C.F.P.B. leadership.” Read more »


Shannen W. Coffin in The Weekly Standard:

“The dispute and the resulting litigation will cast further doubt over the legitimacy of an already troubled agency.”

The president has the law on his side, Mr. Coffin argues. While Democrats are likely to slow-walk the confirmation process for whomever Mr. Trump ultimately appoints, the president still has the constitutional authority to name an interim director, he says. Moreover, Mr. Coffin, a lawyer who has “represented clients affected by and opposed to C.F.P.B. regulation,” is eager for Mr. Mulvaney to begin rolling back what he considers to be the bureau’s regulatory overreach. Read more »


David Harsanyi in The Federalist:

“Republicans have long argued that the Consumer Financial Protection Bureau is corrupt, unaccountable and unconstitutional. This week, Democrats proved that’s exactly how they like it.”

The chaos emerging from the agency could not come at a better time, Mr. Harsanyi writes. The conflict over who will helm the bureau is a perfect opportunity for the Trump administration to start “seriously diminishing the power and reach of the agency, and perhaps eliminate it altogether.” He points out what he sees as “norm-busting” hypocrisy on the left, writing, “Democrats are now arguing that their favored bureaucrat should be able to wrest control of a law-enforcement agency because they’re unhappy with the outcome of the last election.” Read more »


Ronald L. Rubin in National Review:

“Cordray cared about consumers, but he was consumed by politics.”

Mr. Rubin, who was an enforcement lawyer at the consumer finance watchdog, views Mr. Cordray’s appointment of Leandra English as interim director of the agency as a “sickening stunt” that reeks of politics. He accuses Mr. Cordray of trying to cover up some of the agency’s missteps, including its “failure to investigate the Wells Fargo fraud; data manipulation in its failed attempt to regulate car dealers by guessing buyers’ races and alleging discriminatory lending; inspector-general admonishments to stop obstructing congressional oversight; and some particularly explosive sexual-harassment claims against C.F.P.B. senior managers.” Read more »

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