“Mick Mulvaney’s Year at CFPB Has Pleased Financial Industry”

The Wall Street Journal reports: "Mick Mulvaney, as acting director of the Consumer Financial Protection Bureau, has softened the agency’s hard-charging approach that financial companies had long complained about. One year after his appointment, the industry is pleased, but not fully satisfied. Mr. Mulvaney, appointed by President Trump last November, over the past year has made a number of changes that the financial industry has hailed, including a pullback in enforcement actions, an easing of supervisory activities, and a pledge to redo a new payday-loan rule that lenders warned would decimate them. But many in the industry had expected Mr. Mulvaney to move more swiftly to blunt the power of the agency and ease regulations in areas such as mortgage disclosures, debt collection, and prepaid cards."

The full article is here. (Subscription may be required.)

Leave a Reply

Your email address will not be published. Required fields are marked *