The Logical Leftist
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CFPB Director: Days Of Protecting Consumers 'Are Over!"
Posted
January 25, 2018
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January 25, 2018
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"Acting CFPB Director Mick Mulvaney declared “a new mission” for the bureau in a Tuesday memo to agency staff, first reported by ProPublica and confirmed by The Hill.
The two-page email to CFPB employees is a direct rebuke of Mulvaney’s predecessor, Richard Cordray, and his stated goal to “push the envelope” on financial sector oversight.
Mulvaney, who also serves as the White House budget chief and sought to eliminate the CFPB as a GOP congressman, said Cordray’s mentality “frightens me a little” and insisted he’d reorient the bureau toward enforcing and not creating laws.
“The law mandates that we enforce consumer protection laws, and we will continue to do exactly that under my watch,” wrote Mulvaney, explaining he pledged not to shut down the bureau because “the law doesn’t allow that.”
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