OMB director, long a critic, reportedly considered to run consumer bureau in interim role

Reports are circulating in Washington that Office of Management and Budget (OMB) Director Mick Mulvaney will be tapped by the White House to lead the Consumer Financial Protection Bureau (CFPB) on an interim basis.

Mulvaney would replace bureau Director Richard Cordray, who said this week he is stepping down from the agency at the end of the month. Cordray’s five-year term was due to end in July.

A Republican member of Congress from South Carolina before he joined the administration of President Donald Trump early in 2017, Mulvaney, was a fierce critic as a lawmaker of the agency he will reportedly lead.

If Mulvaney is appointed, it would be on an interim basis, according to press reports. Additionally, he would continue to remain as OMB director.

The consideration of Mulvaney may have something to do with geography: CFPB offices are right across the street from OMB headquarters in Washington. If appointed, Mulvaney would reportedly hold the job until a Trump nominee for permanent director is confirmed.