Mulvaney Puts CFPB Fund to Educate Consumers and Compensate Victims Under “Strictest Review”

“Acting Director” Doesn’t Want to Compensate Victims or Educate More Americans About the CFPB and Its Important Mission


WASHINGTON, D.C. – Today, following news that CFPB “Acting Director” Mick Mulvaney is putting under “strictest review” the Consumer Financial Protection Bureau’s (CFPB) fund to compensate victims of fraud and to educate American consumers about its existence, mission, and ability to help them, Allied Progress released the following statement:

This isn’t rocket science. When people hear about the Consumer Financial Protection Bureau, they love it. Mick Mulvaney knows this – that’s why he wants to stop the CFPB from compensating victims and educating hardworking consumers about its mission. He doesn’t want more people knowing the CFPB exists and it’s here to help them when big banks and financial predators screw them over. He doesn’t want the CFPB to help increase financial literacy among consumers because the special interests calling the shots in Mulvaney’s orbit prefer easier prey,” said Karl Frisch, executive director of Allied Progress.

He continued, “Mulvaney can’t afford more Americans learning about the CFPB and everything he is doing to undermine its important consumer protection work. He can’t afford more Americans learning about the CFPB and everything he is doing to put big banks and Wall Street special interests back in the driver’s seat. He can’t afford more Americans learning about the CFPB and everything he is doing to fill its leadership with financial industry cronies who think consumers have it easy and the corporations they once worked for are the ones that need help.”

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