After President Trump appointed Mick Mulvaney to run the Consumer Financial Protection Bureau in November, consumer advocates expressed concern that the former South Carolina congressman had a glaring conflict of interest: while theShow More Summary
The Consumer Financial Protection Bureau has dropped an investigation into a South Carolina payday loan company that donated to their director’s campaigns when he was a lawmaker in the state. As American Banker magazine reported, World Acceptance Corp, a small loans lender based in...
Mr. Mulvaney, acting director of the consumer bureau, fired off a mission statement instructing staff to not “push the envelope.”
Ever since White House budget director Mick Mulvaney’s embattled appointment two months ago as head of the Consumer Financial Protection Bureau, he’s moved swiftly to transform the watchdog agency he once called a “sick, sad” joke. He has shelved investigations and kneecapped the work of CFPB examiners by halting data collection. Show More Summary
Without explanation, the Consumer Financial Protection Bureau has dropped a lawsuit in Kansas it had filed a year ago against four payday lending companies. The move reinforced worries among consumer … Click to Continue »
The Consumer Financial Protection Bureau, founded by Elizabeth Warren prior to her career as a senator, was once the gem of the US political system, a consistently effective force for punishing finance industry wrongdoing, until Trump...Show More Summary
Interim director of the Consumer Financial Protection Bureau said the watchdog had sufficient operating funds left from FY 2017.
In what would be a laughable move if it wasn’t so incredibly tragic, the Trump administration’s newly emasculated Consumer Financial Protection Bureau this week sided with payday lenders over consumers. You heard right. The CFPB, now led by an appointee of a businessman-politician whose companies...
A noted hater of the Consumer Financial Protection Bureau, Mulvaney has spent the past several days weakening the watchdog.
The Consumer Financial Protection Bureau’s acting director is paying operations costs from its reserves this quarter, his latest move to curb the agency.
Bloomberg reports: The Consumer Financial Protection Bureau is dropping a lawsuit against a group of payday lenders associated with an American Indian tribe in a sign the regulator is changing direction under Mick Mulvaney, the acting director appointed by the Trump administration. Show More Summary
CHANGE: Mick Mulvaney, whose appointment to lead the Consumer Financial Protection Bureau generated significant controversy last year, requests no new funding for the bureau, arguing money on hand is sufficient to cover the next quarter’s expenses.
In his first quarterly funding request as acting director of the Consumer Financial Protection Bureau, Mick Mulvaney is asking for nothing. “This letter is to inform you that for the Second Quarter of Fiscal Year 2018, the Bureau is requesting $0,” he wrote Wednesday to Janet L. Yellen, chair of...
Mick Mulvaney doesn’t want any new money for the Consumer Financial Protection Bureau, but he does want the companies whose abusive business practices put them at odds with the agency to sound off in the comments. The acting head of the CFPB told the Federal Reserve to give the seven-year-old watchdog zero dollars in new […]
Politico: “Every quarter, the Consumer Financial Protection Bureau formally requests its operating funds from the Federal Reserve. Last quarter, former director Richard Cordray asked for $217.1 million. Cordray, an appointee of President Barack Obama, needed just $86.6 million the quarter [...]
Mick Mulvaney once called the Consumer Financial Protection Bureau a "joke... in a sad, sick kind of way.” Now, as its acting director, he’s in a position to change it. On Wednesday, Mulvaney announced he was launching a review of the entire operation of the consumer watchdog agency created in...
The Trump-appointed acting director of the Consumer Financial Protection Bureau said Wednesday that he is launching a review of all the federal consumer watchdog agency's policies and priorities. It's the … Click to Continue »
The Consumer Financial Protection Bureau is considering changing a rule so it's easier for payday lenders to take more of people's money. This after the White House took over the agency and installed Mick Mulvaney as director. Despite...Show More Summary