WASHINGTON, D.C. — U.S. Sen. Sherrod Brown (D-OH) – ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs – released ‘Pushing the Envelope: The Consumer Financial Protection Bureau Under the Trump Administration’ report to Congress.
The report details how Mr. Mulvaney has undermined the Bureau’s mission to enforce consumer protections in order to push the financial industry’s wish list. The CFPB was a great success during its first six years. The Bureau obtained almost $12 billion in relief for more than 29 million working families while protecting consumers from a host of unfair, deceptive, and abusive practices, including predatory payday lenders, scam debt collectors, and illegal loans that target servicemembers.
Working families and seniors are suffering while Mulvaney does favors for corporate special interests,” said Brown. “Wall Street and the financial industry have armies of lobbyists at their beck and call – the CFPB was created to deliver results for American consumers.”
The report also highlights how Kathy Kraninger, President Trump’s pick to succeed Mr. Mulvaney, is standing ready to be a rubber stamp of his disastrous policies. The report demonstrates how important it is for working families to have someone who will fight for them as the head of the CFPB. President Trump should nominate a serious candidate, with real consumer protection experience and a genuine commitment to the Bureau’s mission, to lead the CFPB.
Link to full Committee Report can be found here.