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Potential Nomination of McWatters to Head Up the CFPB Hits a Rough Patch

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Breitbart discusses possible Consumer Financial Protection Bureau (CFPB) nominee Mark McWatters with John Berlau.

The potential nomination of National Credit Union Adminstration Chairman (NCUA) Mark McWatters to become the new director of the Consumer Financial Protection Bureau (CFPB) has encountered some unexpected difficulties.

McWatters appeared to be a lock for the job when earlier this month Rep. Jeb Hensarling (R-TX), chairman of the powerful House Financial Services Committee and a long-time critic of the CFPB and its former director, Richard Cordray, endorsed his law school classmate and former aide for the position, and encouraged President Trump to nominate him.

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McWatters wins praise from John Berlau, a senior fellow at the Competitive Enterprise Institute, which is not supporting McWatters or any particular candidate over the others under consideration to be CFPB director, for the work he did on the TARP Congressional Oversight Panel.

“Mark McWatters has a solid record advocating on behalf of deregulation for small businesses, community banks, and credit unions. As a member of the Congressional Oversight Panel on the financial crisis from 2009 to 2011, McWatters was also a vocal opponent of the pro-bailout and pro-regulation position of chair Elizabeth Warren and other Democrat appointees,” Berlau tells Breitbart News.

Read the full article at Breitbart.