Defense and Compliance Attorneys
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President Donald Trump has nominated Stuart Levenbach, who currently serves as Associate Director for Natural Resources, Energy, Science, and Water at the Office of Management and Budget (OMB), to be the new director of the Consumer Financial Protection Bureau (CFPB).
Background on Stuart Levenbach
Levenbach was previously a political appointee at the National Oceanic and Atmospheric Administration (NOAA), where he was known for attempting to tone down scientists’ conclusions on climate issues before moving to OMB in March as associate director over natural resources, energy, science, and water.
Significance of the Nomination
The nomination of Levenbach allows Acting CFPB Director Russell Vought to bypass the Federal Vacancies Reform Act, extending his tenure as acting director for another 210 days while the nomination is under consideration. Vought, appointed in February, was nearing the 210-day legal limit to remain at the agency. The Trump administration’s move is widely seen as an effort to shutter the CFPB, as Vought previously claimed he could not legally request funding for the bureau and the agency may run out of money by year-end.
Political Context
The nomination has drawn criticism from Democrats such as Senator Elizabeth Warren, who argue it is merely a strategy to allow Vought to remain as acting director while working to close down the CFPB. She stated the move would make it easier for corporations to exploit consumers.
In summary, Stuart Levenbach’s nomination to head the CFPB is closely tied to the Trump administration’s ongoing attempt to restructure or wind down the bureau, with current acting director Russell Vought benefiting from extended time at the agency due to the rules surrounding such nominations.
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