Johnathan Dever, a Republican Ohio state representative and defense lawyer, is being touted as a top candidate to lead the bureau, according to multiple insiders.
Comptroller of the Currency Joseph Otting blasted a letter from Senate Democrats criticizing his agency for not implementing recommendations on supervision in the wake of the Wells Fargo scandal.
Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau, has requested no funding from the Federal Reserve in the second quarter and instead will use reserves to fund the agency.
The Consumer Financial Protection Bureau faces significant obstacles in reopening the payday lending rule including likely legal challenges and a lengthy compliance process with the Administrative Procedure Act.
Acting CFPB director Mick Mulvaney issued "a call for evidence" Wednesday seeking comment on all of the consumer agency's functions, including enforcement, supervision, rulemaking, market monitoring and education activities.
Of the more than 30 GOP lawmakers due to retire at yearend - a historically significant level of departures for a single election - several are important to banking policy.
GOP Rep. Ed Royce of California said this week that he will leave Congress at the end of the year, removing his name from the list of contenders to lead the Financial Services Committee next year.
