AFSA Statement on Acting Director Mick Mulvaney's Appointment November 25, 2017 Statement from Chris Stinebert, President & CEO American Financial Services Association (AFSA) “AFSA welcomes the Trump Administration’s appointment of OMB Director Mick Mulvaney to serve as Acting Director of the CFPB following yesterday’s resignation of Director Richard Cordray. Mulvaney’s appointment as Acting Director will ultimately ensure a smooth transition to a permanent director, nominated by the President, who will carry on the priorities of the administration. In his role as OMB Director, as well as having served on the House Financial Services Committee, Director Mulvaney has demonstrated that he understands the need for effective and fair regulation. Nowhere is that balanced approach more needed than at the CFPB, an agency that has all too often regulated by press releases. AFSA believes that Mulvaney will lead the CFPB in a fashion that gives financial services providers clear guidelines as opposed to guesswork and allows them to better serve their customers.” Based in Washington, D.C., the American Financial Services Association (AFSA), now in its 101st year, is the national trade association for the consumer credit industry, committed to protecting access to credit and consumer choice. Its 400 members include traditional installment lenders, vehicle finance/leasing companies, consumer and commercial finance companies, mortgage lenders and servicers, payment card issuers, industrial banks and industry suppliers. For more information, visit www.afsaonline.org.