Another name as surfaced and been added to the shortlist to be the next director of the Consumer Financial Protection Bureau, according to a published report.
J. Mark McWatters, who is currently chairman of the National Credit Union Administration, is being considered for the job to replace Richard Cordray, according to the report.
McWatters is described as being “pragmatic” and “measured” which would help mollify Democrats who are worried that the ideology of President Trump’s replacement will be too far to the right for their liking.
Others who are reportedly being considered for the position are Todd Zywicki, a professor at George Mason University who previously worked at the Federal Trade Commission, Rep. Jeb Hensarling [R-Texas], the chairman of the House Financial Services Committee who is retiring from Congress, and Keith Norieka, who was acting director of the Office of the Comptroller of the Currency.
Companies and organizations within the financial services industry may have an issue with McWatters, however, because the NCUA, which regulates credit unions, is thought to be too soft on those organizations under its regulatory purview.
McWatters was named head of the NCUA in 2014 under former president Barack Obama.
