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U.S. President Donald Trump is naming White House budget director Mick Mulvaney to be the temporary head of the Consumer Financial Protection Bureau, setting up a high-stakes legal clash over the regulator’s leadership.

Mulvaney’s appointment came just hours after outgoing CFPB Director Richard Cordray announced he was tapping a deputy to run the agency on an acting basis, a move that was widely seen as an attempt to prevent the White House from defanging the watchdog.

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