Two federal agencies with oversight of the used vehicle industry, the Consumer Financial Protection Bureau and Federal Trade Commission, experienced leadership changes this week.
From NIADA
Two federal agencies with oversight of the used vehicle industry, the Consumer Financial Protection Bureau and Federal Trade Commission, experienced leadership changes this week.
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’s Associate Director for Natural Resources, Energy, Science, and Water.
The timing of Levenbach’s 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. Under 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.
In related news, reports earlier this week indicated that Geof Gradler, a political appointee in the CFPB’s front office, has been promoted to Deputy Director.
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’s ability to function. Although the FTC Act does not define a quorum, the agency’s Rules of Practice state that a quorum is “a majority of the members of the Commission in office and not recused from participating in the matter.” When fewer than three Commissioners are in office, the rules provide that “a quorum shall consist of the number of members in office.”
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.
