The Payday Predator’s Pal

February 6, 2018 by  
Filed under Issues, Payday Lending, Recent Blog Posts

It’s Trump-appointed acting CFPB director Mick Mulvaney.

From John Miller in the Kansas City Star:

You’d think President Donald Trump’s White House budget director Mick Mulvaney would have his hands full. After all, he was in charge of the recent government shutdown, which he called “kind of cool.” In his spare time, however, Mulvaney is also running the Consumer Financial Protection Bureau, or CFPB — as in running it into the ground.

In perhaps his most Orwellian move to date, Trump handed the reins of the CFPB to Mulvaney, who once called the agency a “sick, sad joke.” And Mulvaney is a man on a mission: He is relentlessly transforming the Consumer Financial Protection Bureau into the Payday Lender Protection Bureau. Here’s a sample of his recent work:

▪ Without explanation, the CFPB dropped a Kansas lawsuit against four payday lending companies. The lawsuit alleged the companies ran a payday call center in Overland Park, despite being formally organized on an Indian reservation in California.

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