November 27, 2017

Cortez Masto: I Reject Trump Administration Effort to Interfere with Independent Consumer Agency

Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.) U.S. Senator Catherine Cortez Masto (D-Nev.) released the following statement today calling on the Trump Administration to respect the law and follow the provision under Wall Street Reform that requires that the Deputy Director of the Consumer Financial Protection Bureau (CFPB) shall become the Acting Director in the event that a Director has not been confirmed by the Senate:

“Wall Street Reform specifically provides that the Deputy Director of the CFPB will become the Acting Director of the agency in the event of a vacancy. President Trump must respect the law and allow Leandra English to fulfil her obligations to American consumers. She is now the Acting Director of the CFPB, and my office will recognize her leadership. If President Trump wishes to have an alternate person run the Bureau, he should nominate that individual and provide them with a chance to be considered before the Senate.

“The Consumer Financial Protection Bureau was created to prevent economic meltdowns like the one we saw in 2008, which decimated Nevada borrowers, homeowners and taxpayers. President Trump should quickly nominate a replacement who puts consumers first and will fulfill the mission of the CFPB independently and effectively.”