Consumer Bureau Should Focus on Mission

From the Chicago Sun-Times:

But with a sleight-of-hand that’s being questioned in the courts, President Donald Trump in November appointed Mick Mulvaney to head the bureau. Mulvaney, who also runs the Office of Management and Budget, said in a mission statement he sent out this month that what the bureau needs, essentially, is a commitment to deregulation. And he made it clear he would spend more time thinking about the impact on businesses — and, therefore, less on consumers — when the bureau takes any action.

Now, this month, the CFPB has dropped out of a lawsuit against payday loan operations that charged interest rates of up to 950 percent. Personally, we can’t share his affection for loan sharks.

The entire point of the CFPB is to protect consumers from rapacious and unethical businesses. There is nothing anti-business about going after smooth operators who scheme daily to cheat consumers out of their hard-earned money.

MORE on the importance of the CFPB and Trump’s attempts to derail it.

For more on our work to protect consumers, follow @TNCitizenAction



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