The announced departure of the Consumer Financial Protection Bureau’s director and subsequent appointments have left the regulator with competing claims to interim leadership.

On Friday, CFPB Director Richard Cordray wrote to President Donald J. Trump saying his resignation would be effective at midnight.

Trump named his director of the White House Office of Management and Budget as acting CFPB director. But Cordray appointed his chief of staff to be deputy director — leaving unclear who is in charge.

Source: Mortgage Daily