The fate of the Consumer Financial Protection Bureau now lies in the hands of a judge.

A bit of background: On Nov. 24, CFPB director Richard Cordray resigned, one week before his planned departure. He named CFPB Chief of Staff Leandra English as his successor, only to have President Donald Trumppick his own replacement: Mick Mulvaney, the director of the Office of Management and Budget.

That led English to file a lawsuit against Trump. The case boils down to a procedural dispute. But it’s left a lot of people in distress. (NPR’s Domenico Montanaro had this amusing Tweet of Mulvaney bringing Dunkin’ Donuts to his first day on Monday, presumably to smooth things over with employees.)

Why it matters: Financial firms fought hard against a CFPB rule that would have restricted mandatory arbitration clauses in some class actions. They see Mulvaney as steering the consumer agency in a different direction, while English “is going to essentially be a clone of Cordray.”

That’s according to Ballard Spahr’s Alan Kaplinsky. But more importantly, Kaplinsky said: “The industry needs certainty, and they can’t have an agency where two people claim that they’re in charge.”

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