Mick Mulvaney admits he favored lobbyists who gave him money as a lawmaker. He has no business running the CFPB, an agency devoted to the protection of consumers, not lobbyists.
Americans for Financial Reform and the Center for Responsible Lending hosted a press call today with leading experts to discuss two ongoing lawsuits concerning the CFPB director and the administration’s attempts to destroy the CFPB’s independence.
The notion that this administration is or will be tough on Wall Street doesn’t pass the laugh test, and that fact is evident in deeds, not tweets. Trump has put Goldman Sachs executives in the most senior positions in the government, and pushed for a giant tax cut for Wall Street.
Mulvaney has said he is opposed to the very existence of the CFPB, and as a member of Congress he voted in favor of Wall Street banks and predatory lenders — his largest donors — again and again. The CFPB has recovered $12 billion in ill-gotten gains on behalf people around this country. It is this work that the administration apparently wants to destroy