Mulvaney Grants Financial Cheats “Independence” from Accountability

Mulvaney’s CFPB Shows Leniency Toward Law-Breaking Banks and Predatory Lenders, Makes Consumers Fight For Themselves!


WASHINGTON, D.C. – Today, as America prepares to celebrate its independence, big banks, predatory lenders, and other shady financial institutions couldn’t be happier with Consumer Financial Protection Bureau (CFPB) “Acting Director” Mick Mulvaney who has been granting them “independence” from accountability since he took charge of the Bureau in November. On his watch, there have been three major settlements and in each Mulvaney has gone out of his way to make things easier for those who have broken the law:

 

 

These enforcement actions were initiated under the previous CFPB Director, Richard Cordray, who took a far more aggressive posture in defense of consumers than Mulvaney is now demonstrating. To date, Mulvaney has not publicly announced the initiation of a new CFPB enforcement action against any companies for breaking the law.

Time and again, Mick Mulvaney has given banks and predatory lenders a ‘get out of jail free card’ – especially those who showered him with thousands of dollars in campaign cash. Meanwhile, he’s forcing consumers to jump through hoops to get their money back from the financial bottom feeders that have screwed them over.  He has perverted the consumer protection mission of the CFPB and granted big banks, predatory lenders, and other cheats ‘independence’ from accountability,”said Karl Frisch, executive director of Allied Progress.

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