The White House is preparing for a showdown over who will be the next leader of the Consumer Financial Protection Bureau, a high-stakes battle that could end up in court and slow President Donald Trump's effort to roll back banking industry regulations.
Leadership of the agency was thrown into doubt on an otherwise slow holiday weekend after Trump and the CFPB's outgoing head both named acting directors to head the regulatory watchdog. On Friday, Trump named White House budget director Mick Mulvaney, a longtime critic of the agency, while Richard Cordray promoted his chief of staff, Leandra English, to deputy director and said she would become acting director.