Trump to call CFPB nominee in the near future: official

WASHINGTON (Reuters) – President Donald Trump have been reviewing a handful of potential nominees to have the buyer Financial Protection Bureau (CFPB) along with his final pick might be named monday, a highly regarded U.S. official said on Tuesday.

The law requires Trump to formally nominate anyone to lead the CFPB after the month and hubby will help keep that schedule, said Mick Mulvaney, that has led the company by using an interim basis since November.

"The permanent body’s will be named probably mid- to late monday," Mulvaney told reporters on Tuesday.

Trump met with one or more finalist to the post in recent days, said Mulvaney, who also may serve as Trump's budget chief.

Trump's pick must be confirmed from the U.S. Senate. The top chamber is already battling a backlog of nominees, meaning Mulvaney will lead the CFPB with the end of the year, he was quoted saying.

The CFPB was conceived following decade-old global financial trouble to stamp out predatory lending. But Mulvaney says the agency has moved beyond the boundary before, overstepping its legal mandate.

Elizabeth Warren was instrumental within the formation on the CFPB, along with the U.S. senator from Massachusetts has long been an outspoken critic of Mulvaney's handling from the agency.