American Bridge spokesperson Andrew Bates issued the following statement after it was reported that Donald Trump may appoint Office of Management and Budget Director Mick Mulvaney to be the interim director of the Consumer Financial Protection Bureau (CFPB).
”Not one month ago, Donald Trump sided with Wall Street and predatory lenders over our nation’s veterans and middle class families by signing a bill that allows banks and other financial companies to escape full legal accountability after defrauding consumers,” said American Bridge spokesperson Andrew Bates. “Now Trump may appoint a temporary head of the agency who does not think the agency should even exist. This is yet another example of Donald Trump acting to sell out the Americans he pledged to stand up for. Like his tax efforts, this would further rig the American economy in favor of the wealthy and large corporations.”
Mulvaney has objected to the existence of the CFPB, which was founded to defend American consumers from predatory financial practices. This news comes less that one month after Trump delivered on a top priority of Wall Street banks and credit card companies by signing a law overturning a CFPB rule prohibiting the use of “forced arbitration,” which has been used to prevent millions of hardworking Americans from accessing their full legal rights after being defrauded
The American Legion had urged Trump to veto the bill because veterans are often abused with forced arbitration.
Then-Congressman Mick Mulvaney, 6/25/2015: “I don’t like the fact that CFPB exists, I will be perfectly honest with you.”