American Bridge spokesperson Andrew Bates released the following statement in reaction to OMB Director Mick Mulvaney doubling down on his belief that the Consumer Financial Protection Bureau (CFPB) is a “joke” that should not exist:
“If Donald Trump’s power-grab goes through and Mulvaney is allowed to be in charge, middle class Americans and working families are almost certain to lose the protections against abusive practices on the part of banks, credit card companies, payday lenders, and other entities that the CFPB was created to provide. Trump is undermining the Wall Street reforms passed after the 2008 financial crisis and trying to cripple the CFPB from within – all in the name of partisan politics. This would be a major Wall Street win at the expense of millions of American consumers.”
The CFPB’s enforcement actions have delivered nearly $12 billion in relief for 29 million American consumers.
While in Congress, Mulvaney said that the […]Read more after the jump.