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US lawmaker, credit union regulator, professor among top picks to head CFPB

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US lawmaker, credit union regulator, professor among top picks to head CFPB

U.S. Rep. Darrell Issa, R-Calif., and credit union regulator Mark McWatters are among the White House's top picks to run the Consumer Financial Protection Bureau, Bloomberg News reported, citing people familiar with the matter. George Mason University law professor Todd Zywicki is also in the running, The National Law Journal reported.

Issa is not running for re-election this year. He is currently on three House committees: Judiciary, Oversight and Government Reform, and Foreign Affairs. McWatters, the chairman of the National Credit Union Administration, has been rumored to be a possible nominee for months.

The announcement regarding the appointment is expected next week, Bloomberg reported, citing acting CFPB Director Mick Mulvaney. By federal law, Mulvaney's term is set to end June 22, but he will likely remain in the role until the Senate confirms a successor.