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Mick Mulvaney Gives Financial Industry Incentives to Develop Schemes to Rip Off Poor and Minorities

Mick Mulvaney, the acting director of the Consumer Financial Protection Bureau (CFPB), effectively decided to incentivize ripoff schemes by taking away the enforcement powers of the CFPB division that is charged with blocking such schemes. As fans of free markets everywhere know, if it possible to make money by designing deceptive financial products that rip off low and moderate income people, profit maximizing companies will do it.
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