washington fight control u.s. consumer watchdog agency intensify monday mick mulvaney president donald trump pick run consumer financial protection bureau cfpb impose hire freeze halt new regulations partisan showdown cfpb create crack predatory financial practice mulvaney sue leandra english obama-era appointee agency argue consumer bureau rightful leader conflict begin friday richard cordray democrat appoint cfpb director then-president barack obama formally resign name english chief staff act director hours late trump name mulvaney current director white house budget office temporary head cfpb republican president right name permanent cfpb director officials agree duel claim however get lead agency meantime side present arguments emergency u.s. district court hear washington monday timothy kelly trump-appointed judge preside case say issue raise extremely important complicate judge well two side say hop see case decide within next days next step trump administration submit response english suit fight control 1,600-employee agency lay bare deep divisions republicans democrats regulate wall street protect consumers follow 2007-2009 financial crisis cost taxpayers 700 billion bailouts republicans loathe cfpb say wield much power burden bank lenders unnecessary red tape mulvaney seek dismantle cfpb republican congressman acknowledge news brief monday afternoon trump administration dramatically different interpretation 2010 dodd-frank law create cfpb say would 30-day freeze hire agency payments cfpb civil penalties fund amount time well except require legally new regulations would also freeze say president make clear want ... want want anything come know mulvaney say early monday english welcome staff back thanksgiving holiday morning email sign act director around time mulvaney arrive cordray former office bring doughnuts staff please disregard instructions receive ms. english presume capacity act director write all-staff email see reuters also sign act director mulvaney advise staff members inform agency general counsel hear additional communications english mulvaney get settle source tell reuters cfpb general counsel mary mcleod send memo agree u.s. justice department trump power appoint mulvaney temporary leader watchdog english go cfpb morning accord lawyer meet capitol hill senate democratic leader chuck schumer democratic senator elizabeth warren conceive cfpb english tell reporters mulvaney authority agency schumer say senate floor dodd-frank law help write set clear succession process cfpb make english act director schumer say mulvaney choose trump administration simply rock agency inside trump campaign president say wall street get away murder also promise defang abolish cfpb since take office trump try undo number democratic predecessor initiatives mostly notably 2010 affordable care act republican-controlled congress unable repeal replace cordray develop reputation draft aggressive rule curb products payday loan issue multimillion-dollar fin large financial institutions well fargo co wfc.n stock price major u.s. bank trade near all-time highs kbw bank index .bkx double since july 2011 cfpb open business drama cfpb come senate prepare consider bill would significantly ease rule bank first time since financial crisis moderate democrats republicans come support package aim primarily small mid-sized bank analysts warn cfpb fight could imperil compromise senate bank committee suppose take bill next week trump-installed consumer agency head set hire freeze halt new rule