Upon winning back a majority in the U.S. House of Representatives, Democrats have set their eyes on restoring many of the changes made under Mick Mulvaney, acting director of the CFPB. In vowing to treat the Agency like any other government entity, House Democrats plan to step up congressional oversight into the Agency. A complete reverse from their previous […]
The Obama administration was never shy about its targeting of industries it was not a fan of. Case and point, the creation of the Consumer Financial Protection Bureau (CFPB), an organization which has primarily targeted financial intuitions the Obama administration wasn’t fond of. Throughout the CFPB’s existence industries such as banks, credit unions, and small […]
Kathy Kraninger was recently approved by the Senate Banking Committee to serve as Director for the Consumer Financial Protection Bureau (CFPB). And upon confirmation by the full Senate, will eventually take over the reins from Acting Director, Mick Mulvaney. Just like her predecessor, Kraninger will undoubtedly continue to implement reforms that will rein in the […]
One recent court ruling would say so. The Fifth Circuit Court of Appeals recently ruled that the Federal Housing Finance Agency (FHFA) is unconstitutionally structured. How is this related to the CFPB you ask? Well, the FHFA is almost identically structured to the CFPB. For one, both agencies are controlled by a sole director. Unlike […]
In a series of tweets, Allied Progress, the self-proclaimed consumer watchdog, called out a competing group Protect America’s Consumers (a non-profit organization known to be been hypercritical of the CFPB) calling the organization a “super shady AstroTurf group.” What is ironic about this situation is that Allied Progress has its own history of acting as a shady AstroTurf […]
Mick Mulvaney, the Consumer Financial Protection Bureau’s (CFPB) acting director, just can’t stop winning. Not only is he reining in the CFPB’s regulatory excesses and saving taxpayer money, but the agency’s leftover Democrats are officially giving up their efforts to undermine his reforms. In light of President Trump’s recent nomination of budget official Kathy Kraninger […]
The Consumer Financial Protection Bureau (CFPB) recently supported a motion for reconsideration of the “payday rule,” putting one of Richard Cordray’s most onerous mandates on the chopping block. Mick Mulvaney’s CFPB described the rule as “arbitrary and capricious.” They’re right to reconsider it. The “payday rule” would impose burdensome regulations on short-term lenders and make […]
Mick Mulvaney, acting director of the Consumer Financial Protection Bureau (CFPB), recently pledged to reduce the regulatory oversight of the agency. Mulvaney plans to create an “office of cost benefit analysis” to weigh the economic cost of CFPB enforcement actions, not to mention agency operational costs. The heightened scrutiny is long overdue. After years of bureaucratic excess […]
If you’ve stumbled across the website ConsumersUnderAttack.org, feel free to keep surfing. The website was recently launched by a coalition of left-wing activist groups to mislead the public about the Consumer Financial Protection Bureau and its acting director, Mick Mulvaney. While the coalition—which includes Allied Progress, Americans for Financial Reform (AFR), and the Center for Responsible […]
The AP recently claimed the Consumer Financial Protection Bureau (CFPB)—now under the leadership of White House Budget Director Mick Mulvaney—boasts a “cozier relationship between industry and regulator.” But what about Richard Cordray’s CFPB? For years, the agency maintained a cozy relationship with activist groups hell-bent on punishing payday lenders and other industries. One example is the Center […]