The recent action by the Lower East Side People's Federal CreditUnion (LESPFCU) in filing suit against the President naming BudgetDirector Mulvaney as interim Director of the Consumer FinancialProtection Bureau (CFPB) is puzzling. Why a credit union wouldtake issue with the President exercising hisauthority under the law is difficult to understand.

The press reports on the lawsuit state that the credit unionclaims that “regulatory chaos” exists because of the President'saction and that it “does not know who is validly in charge of theCFPB” and “whose rules to follow.” They further contend thatDirector Mulvaney is on a mission “to destroy a bureau thatprotects thousands of credit union members.” The president of thecredit union believes that their members “need the CFPB to protectthem against unscrupulous payday lenders, mortgage sellers andothers regulated by the CFPB.”

It is unfortunate that the CEO of LESPFCU feels her time andenergy is best spent challenging the legal actions of PresidentTrump rather than focusing on providing the financial services hermembers may need to avoid unscrupulous providers. It is unfortunatethat she has chosen to spend her members' money on legal fees tofile a lawsuit when it is questionable the credit union hasstanding to do so. It is unfortunate that she believes it isnecessary to be involved in an issue that will have no impact onthe day to day activities of the credit union or the lives of itsmembers. And it is unfortunate that she has predetermined how thePresident wants the CFPB to operate.

As President Trump has repeatedly said, his goal is to have allfederal agencies function efficiently and effectively as well ascarry out their missions in a way that will be of benefit to allcitizens. The President is committed to protecting the financialrights of everyone and making sure they have access to all thefinancial services they need. Whoever runs the CFPB now or in thefuture will be charged with carrying out that mission.

The goal is not to destroy anything but to make things easierand better for everyone. The protection will remain. It's just abetter plan on how to do it.

Michael Fryzel is a board member for the National CreditUnion Association.