Finance

Issa tamps down rumors of consumer bureau nomination

Greg Nash

Rep. Darrell Issa (R-Calif.) on Thursday poured cold water on rumors that President Trump would nominate him to be the next director of the Consumer Financial Protection Bureau (CFPB).

Issa, who is retiring after this year, told The Hill that he’s not currently speaking with the White House about the position and “have not been contacted as currently in line for it.”

“I think it’s a wonderful story but I’m not currently having discussions with the White House on it,” Issa said. 

The former House Oversight Committee chairman declined to say whether he’s discussed the position with Trump before, but said he would consider taking a role in the Trump administration. 

{mosads}”Discussions I may have had on anything in general, I’m not at liberty to say,” Issa said. “The administration has a lot of positions and I could be potentially be open to one, but like I say, we’re not talking.”

Bloomberg reported Wednesday that Issa had emerged as a potential CFPB director nominee.

Trump is reportedly also considering National Credit Union Administration Chairman Mark McWatters and George Mason University law professor Todd Zywicki to lead the CFPB.

The bureau, created by the Dodd-Frank Act to police predatory lending, is currently under the interim control of White House budget director Mick Mulvaney. Trump appointed Mulvaney as acting CFPB director in November after the bureau’s previous chief, Richard Cordray, resigned to run for governor of Ohio.

Mulvaney’s term as acting director ends June 22, and he would be forced to vacate the position if Trump does not nominate a permanent director. Mulvaney would be able to stay at the CFPB until the confirmation of his successor if a nominee is named before that date.

Tags CFPB Consumer Financial Protection Bureau Darrell Issa Donald Trump Mick Mulvaney Richard Cordray
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