Two federal agencies with oversight of the used vehicle industry, the Consumer Financial Protection Bureau and Federal Trade Commission, experienced leadership changes this week.<\/p>\n\n\n\n
The White House nominated Stuart Levenbach Nov. 19 to serve a five-year term as Director of the CFPB. If confirmed, he would succeed Office of Management and Budget (OMB) Director Russell Vought, who has been acting CFPB Director since early February. Levenbach currently serves as OMB\u2019s Associate Director for Natural Resources, Energy, Science, and Water. <\/p>\n\n\n\n
The timing of Levenbach\u2019s confirmation hearing and vote remains unclear. The nomination is likely a procedural maneuver to enable Vought to continue serving in an acting capacity well into 2026. \u00a0Under the Federal Vacancies Reform Act, an individual may generally serve as acting head of an agency for only 210 days when the position requires presidential appointment and Senate confirmation, but this period is extended once a nomination is submitted.<\/p>\n\n\n\n
In related news, reports earlier this week indicated that Geof Gradler, a political appointee in the CFPB\u2019s front office, has been promoted to Deputy Director.<\/p>\n\n\n\n
As of Nov. 17, the FTC is down to two commissioners following the resignation of Republican Commissioner Melissa Holyoak. The reduction will not impede the agency\u2019s ability to function. Although the FTC Act does not define a quorum, the agency\u2019s Rules of Practice state that a quorum is \u201ca majority of the members of the Commission in office and not recused from participating in the matter.\u201d When fewer than three Commissioners are in office, the rules provide that \u201ca quorum shall consist of the number of members in office.\u201d<\/p>\n\n\n\n
The development does carry political implications. After the president dismissed the two remaining Democratic Commissioners last spring, Senate Democrats are now likely to strongly resist any effort to confirm another Republican to the FTC. The White House announced last month plans to nominate Ryan Baasch, who currently serves on the National Economic Council, to replace Holyoak.<\/p>\n","protected":false},"excerpt":{"rendered":"Two federal agencies with oversight of the used vehicle industry, the Consumer Financial Protection Bureau and Federal Trade…\n","protected":false},"author":1,"featured_media":5071,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_appearance_grid":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[10,3,54],"tags":[],"class_list":{"0":"post-6551","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-advocacy","8":"category-industry","9":"category-legislative","10":"cs-entry","11":"cs-video-wrap"},"_links":{"self":[{"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/posts\/6551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/comments?post=6551"}],"version-history":[{"count":0,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/posts\/6551\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/media\/5071"}],"wp:attachment":[{"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/media?parent=6551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/categories?post=6551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/tags?post=6551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}