The Logical Leftist
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Mick Mulvaney Wont Punish Wells Fargo For Fraud
Posted
December 8, 2017
Views
1,690
Likes
91
Comments
15
Engagement
6.27%
December 8, 2017
1,690
91
15
6.27%
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"The acting head of the Consumer Financial Protection Bureau (CFPB) is reportedly mulling whether to go ahead with a multimillion-dollar penalty for alleged mortgage fraud by Wells Fargo.
Reuters reported that the CFPB and Wells Fargo had been hashing out a settlement over the bank charging potentially more than 100,000 mortgage borrowers unnecessary fees to lock in low mortgage rates.
Acting CFPB Director Mick Mulvaney, the White House budget director, said last week he’d review each of the 14 pending enforcement actions left to him by former Director Richard Cordray.
Mulvaney, a staunch conservative, had routinely spoken out against the CFPB as a congressman, sponsoring bills to eliminate the agency. He and fellow Republicans have accused Cordray and the CFPB of abusing its unique independence and broad power to harm the financial markets."
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