The Washington Post reports today on the Consumer Financial protection Bureau, one year after Director Richard Cordray, who was appointed by President Obama, stepped down and was replaced with OMB Director Mick Mulvaney. If you care about consumer financial protection, it's not a happy story.
One year after Mulvaney’s arrival, he and his political aides have constrained the agency from within, achieving what conservatives on Capitol Hill had been unable to do for years, according to agency data and interviews with career officials.
Publicly announced enforcement actions by the bureau have dropped by about 75 percent from average in recent years, while consumer complaints have risen to new highs, according to a Washington Post analysis of bureau data.
Over the past year, the agency’s workforce has dropped by at least 129 employees amid the largest exodus since its creation in 2010, agency data shows.
The full article is here.
