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Also see: Dodd-Frank; Richard Cordray; Leandra English; Mick Mulvaney; Kathleen Kraninger; Seth Frotman;
Jump to: 2016; 2018; 2019;
Undated: The Consumer Financial Protection Bureau (CFPB), statutorily named the Bureau of Consumer Financial Protection (BCFP),[2][3] is an agency of the United States government responsible for consumer protection in the financial sector. CFPB's jurisdiction includes banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors and other financial companies operating in the United States.
The CFPB's creation was authorized by the Dodd–Frank Wall Street Reform and Consumer Protection Act, whose passage in 2010 was a legislative response to the financial crisis of 2007–08 and the subsequent Great Recession.[4] The CFPB's status as an independent agency is currently questioned due to a circuit split in the U.S. Court of Appeals and a New York Federal District Court.[5]
On June 16, 2018, President Donald Trump selected Kathleen Kraninger, a White House budget official, as the nominee to be the next director of the CFPB.[6][7]
https://en.wikipedia.org/wiki/Consumer_Financial_Protection_Bureau
-- 2016 --
December 21: The Tragic Downfall of the Consumer Financial Protection Bureau
Conceived as a government watchdog with noble aims, the CFPB was doomed by a structure that made it an inherently political agency.
https://www.nationalreview.com/2016/12/consumer-financial-protection-bureau-tragic-failures/
-- 2018 --
February 1: Trump administration strips consumer watchdog office of enforcement powers in lending discrimination cases
https://www.washingtonpost.com/news/business/wp/2018/02/01/trump-administration-strips-consumer-watchdog-office-of-enforcement-powers-against-financial-firms-in-lending-discrimination-cases/?utm_term=.64720ab4dad0
February 7: The Steady, Alarming Destruction of the Consumer Financial Protection Bureau
https://www.newyorker.com/news/news-desk/the-steady-alarming-destruction-of-the-consumer-financial-protection-bureau
March 9: The consumer protection bureau is having a Trump-induced identity crisis
Contrary to its name — and to its strategic plan — today there is dwindling protection for consumers or their finances. Thanks to President Trump’s appointee to lead the agency, Director Mick Mulvaney, enforcement and regulations are being rolled back in ways that benefit the very businesses that the agency was conceived to oversee. How can the CFPB, under this leadership, “ensure that consumer financial products and services are fair” as outlined in its own strategic plan?
http://thehill.com/opinion/finance/377678-the-consumer-protection-bureau-is-having-a-trump-induced-identity-crisis
April 3: Trump Official Lays Out Point-by-Point Plan to Screw Over Consumers
Mick Mulvaney wants to essentially put the financial-services industry in charge of the Consumer Financial Protection Bureau.
https://www.vanityfair.com/news/2018/04/trump-official-lays-out-point-by-point-plan-to-screw-over-consumers
April 10: Under Trump, a voice for the American consumer goes silent
In the 135 days since the Trump administration took control of the nation’s consumer watchdog agency, it has not recorded a single enforcement action against banks, credit card companies, debt collectors or any finance companies whatsoever.
That’s likely no fluke: Mick Mulvaney, appointed acting director of the Consumer Financial Protection Bureau in late November, promised to shrink the bureau’s mandate and take a much softer approach to enforcement, and records reviewed by The Associated Press indicate he has kept his word.
https://www.denverpost.com/2018/04/10/donald-trump-consumer-financial-protection-bureau-no-enforcement/
April 10: The government’s top consumer watchdog hasn’t taken a single enforcement action since Trump’s pick took over
Mick Mulvaney hasn’t imposed any fines or penalties as acting director of the CFPB. Not one.
https://www.vox.com/policy-and-politics/2018/4/10/17218774/mick-mulvaney-cfpb-consumer-wells-fargo-equifax
May 7: How Mick Mulvaney Found Plenty to Target at Consumer Bureau
Boxed out of budget negotiations, Mick Mulvaney’s second job running the Consumer Financial Protection Bureau represents a second chance for him to leave his mark.
“There are lots of targets of opportunity over there for Mick,” said Marc Short, Mr. Trump’s legislative affairs director. “He’s like a mosquito in a nudist colony.”
https://www.nytimes.com/2018/05/07/us/mick-mulvaney-budget-director-consumer-bureau.html
May 25: Mick Mulvaney Is Having a Blast Running the Agency He Detests
Trump’s pick to lead the Consumer Financial Protection Bureau says he wants to give it the credibility of the SEC.
One of the first things Mick Mulvaney did last year after President Trump asked him to be acting director of the Consumer Financial Protection Bureau was to read the statute dictating the agency’s powers. Created by the landmark Dodd-Frank Act of 2010, the CFPB was designed to protect consumers from the abuses of the financial industry and is one of the Democratic Party’s proudest recent achievements.
Mulvaney was no fan of the agency, having repeatedly attacked its very premise during his three terms as a Tea Party Republican in Congress. But he’d apparently never taken the time to study the statute governing it: Title X of Dodd-Frank. When he finally did, he was astonished by what was missing, namely a federal agency known as the CFPB.
https://www.bloomberg.com/news/features/2018-05-25/mick-mulvaney-on-the-cfpb-we-re-still-elizabeth-warren-s-child
May 9: Trump's CFPB is shutting the office that focuses on student loan abuses
http://www.latimes.com/business/la-fi-cfpb-student-loans-20180509-story.html
June 6: Mick Mulvaney, the interim head of the Consumer Financial Protection Bureau, has disbanded three boards whose members include consumer advocacy groups and which advise on policy at the financial watchdog, board members said on Wednesday.
https://www.reuters.com/article/us-usa-cfpb-boards/trumps-consumer-financial-chief-disbands-key-advisory-boards-idUSKCN1J22PN
June 12: The clock is running out on Mick Mulvaney
Trump appointed Mulvaney as the CFPB’s acting director in late November. But he can serve in the job for only six months — until June 22, according to the Federal Vacancies Reform Act. If Trump nominates a replacement, it resets the clock, and Mulvaney can continue in the job while the Senate considers Trump’s nominee. That would leave Mulvaney as the acting director through the end of the year.
https://www.washingtonpost.com/news/business/wp/2018/06/12/the-clock-is-running-out-on-mick-mulvaney/?noredirect=on&utm_term=.46938cdab75d
July 6: English to resign from U.S. Consumer Financial Protection bureau, withdraw suit against Trump
Leandra English, the Deputy Director of the U.S. Consumer Financial Protection Bureau (CFPB) who has sued President Donald Trump is stepping down from her position early next week after the recent nomination of a new director.
“Now that Trump has decided to seek Senate confirmation of a new director for the independent Consumer Financial Protection Bureau, English is stepping down and we intend to file court papers on Monday to bring the litigation to a close,” English’s attorney Deepak Gupta said in a tweet .
https://www.reuters.com/article/us-usa-trump-cfpb/english-to-resign-from-u-s-consumer-financial-protection-bureau-withdraw-suit-against-trump-idUSKBN1JX01Z
July 19: Trump's nominee for Consumer Financial Protection Bureau grilled by Democrats
Kathy Kraninger, who currently serves as the associate director for general government programs at the Office of Management and Budget, was criticized for her lack of consumer finance experience.
https://abcnews.go.com/Politics/trumps-nominee-consumer-financial-protection-bureau-grilled-democrats/story?id=56697321
August 28: Resignation signals Trump administration slow gutting of Consumer Financial Protection Bureau
Seth Frotman, watchdog of the $1.5 trillion student loan industry, quit in protest over what he called, “sweeping changes,” to the agency, including resistance by Betsy DeVos’s Department of Education, the lack of independence in the agency under the Trump administration and the suppression of information showing abuse by big banks.
http://www.nydailynews.com/news/politics/ny-news-consumer-financial-protection-bureau-seth-frotman-mick-mulvaney-20180827-story.html
November 20: After winning control over the House of Representatives in the most recent midterm elections, Democrats are already gearing up for an onslaught of investigations into the Trump administration. According to Politico, Democrats want to look into the soft regulatory environment ushered in by Mulvaney. Under his term, consumer protections eroded, the Democrats claim.
https://www.housingwire.com/articles/47450-democrats-to-open-investigations-on-cfpb-acting-director-mick-mulvaney
November 25: Mick Mulvaney’s Year at CFPB Has Pleased Financial Industry, Which Wants More
Companies blame Mulvaney’s part-time status, internal fights for slow pace of change
https://www.wsj.com/articles/mick-mulvaneys-year-at-cfpb-has-pleased-financial-industry-which-wants-more-1543158000
December 16: Behind the scenes of Trump's hasty chief of staff pick
The president tapped Mick Mulvaney as his acting chief of staff after other possible choices removed themselves from consideration.
https://www.nbcnews.com/politics/white-house/behind-scenes-trump-s-hasty-chief-staff-pick-n948446
-- 2019 --
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