Mulvaney – whose appointment runs to June 22 – expects consumer bureau director nominee by middle of next week

Look for the White House to unveil its nominee for a permanent director of the federal consumer financial protection agency by the middle of next week, the current acting director said Tuesday – although his tenure on the job may not be ending so soon.

Bureau of Consumer Financial Protection (BCFP, formerly known as the CFPB) Acting Director Mick Mulvaney told reporters that he expects President Donald Trump to make a nomination for a permanent director by this time next week. The president is facing a June 22 deadline for making the nomination, when Mulvaney’s appointment runs out.

Mulvaney was appointed by the president to his current role on Nov. 24 under the Federal Vacancies Reform Act of 1998 (FVRA). Under that statute, an acting officer appointed by the president under that provision serves “subject to the time limitations” spelled out in the law. Those include that an appointee may serve “for no longer than 210 days beginning on the date the vacancy occurs.” The 210-day period ends next Friday.

However, if the president nominates a permanent director for the agency, the law states that the appointee may serve “from the date of such nomination for the period that the nomination is pending in the Senate.”

In other words, if the president nominates someone by the middle of next week, Mulvaney may continue serving in his current role as long as the nomination is pending.

Additionally, the statute outlines that if the president’s first nomination is rejected, withdrawn, or returned by the Senate, the acting officer can continue to serve for no more than 210 days after the date of the rejection, withdrawal or return.

As for a nominee to the position: current NCUA Board Chairman J. Mark McWatters has been rumored as a candidate since at least the start of the year. Another candidate to emerge: outgoing Rep. Darrell Issa (R-Calif.), who is not running for reelection. The White House has not made its plans known so far.