As Trump’s OMB Director, Mulvaney is Working Hard to Keep Government Operations to “Minimize” Political Fallout – As Trump’s CFPB “Acting Director” He’s Forcing the Bureau to Drain Its Emergency Fund
WASHINGTON, D.C. – It appears Mick Mulvaney is working at cross purposes. On the one hand he is working hard to keep certain government services open as director of President Trump’s Office of Management and Budget. On the other hand, as Trump’s selection to be “acting director” of the Consumer Financial Protection Bureau (CFPB), he is forcing the Bureau to drain its emergency reserve rather than seeking the funding it has received quarterly from the Federal Reserve (not tax dollars) since its creation in 2010.
“The CFPB should be properly funded so it can fulfill its mission to hold big banks, predatory lenders and other Wall Street special interests accountable. Mick Mulvaney is playing politics when he should be protecting consumers,” said Karl Frisch, executive director of Allied Progress.
He continued, “He freely admits that he’s working to keep Trump’s government open to ‘minimize’ political fallout while at the same time he’s trying to starve the Consumer Bureau. That will only make one group of people happy – industries regulated by the CFPB that gave him $1.28 million when he was a member of Congress.”
Mulvaney Is Playing Politics to Keep Trump’s Government Open and “Minimize” Political Fall Out
- On January 18, 2018, as the “deadline for a government shutdown approached” Mick Mulvaney proposed keeping National Parks open to “minimize anger over the disruption of [federal government] services.” Mulvaney purportedly had the idea to keep national parks open in the event of a shutdown and “Interior Secretary Ryan Zinke is working with the National Park Service to develop a plan.” Mulvaney “explained [that] this shutdown will be far less annoying than the 16-day funding gap presided over by President Obama in 2013.” [Lisa Rein and Juliet Eilperin, “Trump officials weigh keeping national parks open even if government shuts down,” The Washington Post, 01/18/18; Margaret Hartmann, “The Republican Plan to Give Trump His ‘Good’ Shutdown,” New York Magazine, 01/18/18]
Mulvaney Is Forcing the CFPB to Drain Its Emergency Reserve Rather than Seeking the Funding It Has Received from the Federal Reserve (Not Taxpayers) since Its Creation
- Also on January 18, 2018, Mick Mulvaney sent his first request to the Federal Reserve for CFPB funding, and requested no funding whatsoever. [Michael Grunwald, “Mulvaney requests no funding for Consumer Financial Protection Bureau,” Politico, 01/18/18]
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